Minister of Finance Ravi Karunanayake says the investors have been given enough incentives under Budget -2017 and this is the best time for any investor to invest in Sri Lanka.
The Minister assured that all the proposals that have been incorporated in the budget would be implemented on time and some of the proposals have already come into effect.
Treasury officials are working to give to life other proposals that will be implemented on January 01, 2017 and others from April 01, with the beginning of the new tax year respectively.
The 2017 budget has a unison approach under the unity Government and the Minister expressed the belief that all the proposals could be implemented as scheduled.
Highlighting the incentives given to foreigners, the Minister said that the restrictions on foreign owned companies acquiring land for commercial purposes and restriction on foreign individuals owning apartments from the first floor have been removed.
“Local and foreign investors present conveyed their approval to the proposals in the budget as positive and conducive for the development of the economy with foreign investment that would generate employment as well,” the Finance Ministry said.
On the question of a investor friendly visa process the Minister said it had already been addressed through the budget and a five year multiple entry visa will be give to such investors.
The Minister also said all the banks that are operating in the country are making huge profits and therefore it is time the banks come out of their safety zones and lend to the people who want money. (Colombo Gazette)