Davos 2017 - Press Conference with the Prime Minister of Sri Lanka

TL;DR

Sri Lanka aims to become a major economic hub in Asia by attracting foreign investments and improving trade agreements with countries such as China, Singapore, and India.

Transcript

good afternoon and welcome everybody here in the room and also on our live stream our Global audience on the live stream welcome for joining us here for this press conference from the 47th Annual Meeting of the world economic Forum 2017 here in snowy Davos um thank you for joining us um we've heard from the president of China this morning and we're... Read More

Key Insights

• 🇮🇴 Sri Lanka aims to become an economic and logistic hub in Asia, leveraging its strategic location in the Indian Ocean.
• ™️ The country is negotiating trade agreements with major economies like China, Singapore, India, and Japan to gain market access and expand trade opportunities.
• 🇱🇰 Infrastructure development, including ports, expressways, and a financial city, is a priority for Sri Lanka to attract foreign direct investments.
• 😄 The government is focusing on improving ease of doing business indicators and offering tax incentives to promote investment and stimulate economic growth.
• 🇱🇰 Digital infrastructure and telecommunications play a key role in Sri Lanka's plan for economic development, with a focus on digital connectivity, national digital identity, and a payment platform.
• 🇱🇰 Sri Lanka sees Asia as an expanding market, and it aims to diversify its products and markets to tap into this growth potential.

Questions & Answers

Q: What is Sri Lanka's strategy to improve economic integration in Asia?

Sri Lanka plans to negotiate trade agreements with countries such as India, China, Singapore, and Japan to gain market access and penetrate new markets. It aims to become an economic hub in the region.

Q: How does Sri Lanka plan to attract foreign investments?

Sri Lanka intends to offer tax incentives and improve ease of doing business indicators to attract foreign direct investment. It is also seeking assistance from the diaspora and international organizations like the World Economic Forum to promote investment.

Q: What role does digital infrastructure play in Sri Lanka's economic plan?

Sri Lanka is focusing on digital infrastructure and telecommunications to boost its digital economy. It aims to improve connectivity, create a national digital identity, and establish a national payment platform. The country also plans to collaborate with other South Asian nations for the development of digital economies.

Q: How is Sri Lanka addressing the challenges of infrastructure development?

Sri Lanka is making progress in infrastructure development, including port expansions, expressway construction, and investments in the Western region. The government plans to complete these projects within the next 2-3 years, attracting investments and enhancing the country's connectivity in the process.

Summary & Key Takeaways

• Sri Lanka is focused on furthering economic integration in South Asia and the Indian Ocean.

• The country is negotiating trade agreements with India, China, Singapore, and Japan for market access and penetration.

• Sri Lanka is also working on infrastructure development, including ports, expressways, and a financial city, to attract foreign direct investments and stimulate economic growth.