US$ 3B Foreign Investments expected this year – PM

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By 2017-01-05

BY Kavindya Chris Thomas

The second phase of the Unity Government's Economic plan was ceremoniously unveiled yesterday by Prime Minister Ranil Wickremesinghe.

Addressing the media at Temple Trees yesterday the Premier announced the implementation of the second phase of the economic plan of the Wickremesinghe-Sirisena administration.

He noted that the second phase will focus on development based on issues resolved since 2015. He said the government was able to resolve the main economic issues of soaring national debt and low national revenue, adding that the government will focus on exploiting the country's strategic positioning in order to create a communications and logistics hub in the region. The second phase will witness more measures being implemented to develop an export oriented economy that will create jobs for the local workforce.

He said revenue estimates included between US$ 2 to 3 billion flowing in by way of foreign investments from Asian countries such as China, Japan, India and Singapore. The country is expected to forge closer relationships with Pakistan, Bangladesh and ASEAN countries.

Accordingly the second phase will initiate several development projects around the country focused on the South-Western as well as the North-Eastern monsoon corridors.

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