As per the latest reports, Sri Lanka’s cabinet of ministers on Tuesday supported a proposition to give long term visas for travelers keen on putting resources into the island country.
Investments To Increase FDI
Minister of Youth and Sports Namal Rajapaksa said in an explanation that the proposition was put together by President Gotabaya Rajapaksa and endorsed by the cabinet.
Namal said the choice of long haul visas for sharp financial backers won’t just altogether increment Foreign Direct Investments (FDI), yet additionally support more experts and specialists to contribute, work, and live in Sri Lanka.
ALSO READ: Sri Lankan orders release of 21 Indian fishermen
Sri Lanka’s state-claimed venture office the Board of Investment (BOI) last week said the nation is expecting to draw in $3 billion in the FDI by 2026, and the BOI has finished an essential arrangement for the time of 2022 to 2026.
According to the BOI’s arrangement, trade income with new ventures would reach $15 billion by 2026, and in excess of 100,000 positions would be made in the country.
Sri Lanka’s Finance Minister To Visit India This Month
In another update, Sri Lanka’s Finance Minister Basil Rajapaksa will visit India this month, the Indian High Commission here has declared, in the midst of a remarkable financial emergency in the island country.
This declaration came after Rajapaksa talked via phone with External Affairs Minister S Jaishankar on Monday. Rajapaksa’s visit has been waiting since late February.
Sri Lanka was to seal a one-billion-dollar advance from India during the Rajapaksa visit.
The nearby media reports said India had set intense circumstances for the credit including testing Sri Lanka over its arrangement to beat the current financial emergency. Sri Lanka has endured deficiencies of practically all fundamentals because of import hardships brought about by the forex emergency.
India allowed Sri Lanka a much-needed economic relief package in January this year.
(This story has been sourced from a third-party syndicated feed, agencies. Raavi Media accepts no responsibility or liability for the dependability, trustworthiness, reliability, and data of the text. Raavi Media management/ythisnews.com reserves the sole right to alter, delete or remove (without notice) the content at its absolute discretion for any reason whatsoever.)
