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Thursday, December 30, 2010 - 05.41 GMT |
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Govt prepares investment plan |
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The Department of National Planning has prepared a strategy document to mobilize private and public investments to increase Sri Lanka’s per capita income to US$ 6,000 by 2020.
The document entitled "The ‘Investment Plan 2011-2020’ has been prepared including both private and public sector investment on a sectoral basis and has been phased out showing possible foreign aid, foreign direct investment and contribution from the Consolidation fund."
This investment plan is expected to achieve the target of increasing per capita income to well above US$ 6,000 by 2020, thereby improving the country to upper middle income status. The Treasury has also formulated a document titled ‘Policies and Strategies 2011-2020. This document aims at transforming Sri Lanka into a strategically important economic centre in the world.
Experts have opined that Sri Lanka is well positioned to achieve these objectives by sustaining economic growth on 8 to 10% and increasing the investment ratio to 40% from the current level of 25%.
They have appreciated the initiatives taken by the government through the recent budget to simplify the tax system and providing incentives and encouragement to the private sector in the form of tax benefits.
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