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Wed07242019

Last updateMon, 24 Jun 2019 2pm

Local News

Minister Bandula Gunawardena says, Foreign Direct Investments alone cannot be relied upon to strengthen the financial sector of the country, therefore the government is focusing its attention on uplifting the local producers

Speaking at a media briefing held in Colombo today, Minister Bandula Gunawardena said, an Investment Promotion 'Vimukthi' Package will be introduced with the intention of uplifting the country's foreign currency reserves. He also says, by this move, the value of the dollar can be brought down to 160 rupees in the first year, and 140 rupees in the 2nd year.

He says, Foreign Direct Investments alone cannot be relied upon to strengthen the financial sector of the country, and therefore the government is focusing its attention on uplifting the local producers. He also said, five thousand Export Promotional Villages will be created across the island, while he intends to establish three new centres in Katunayaka, Meegoda and Maharagama to expand textile exports.