The Hon. (Dr.) Harshana Suriyapperuma - Deputy Minister of Finance and Planning

¶ 01 Hon. Chairman, it is a privilege to speak on the Votes of the Ministry of Foreign Affairs, Foreign Employment and Tourism and about the approach of the present Government to develop and take this country forward to the next level.

¶ 02 Our approach is based on global connectivity, connecting Sri Lanka to the global value chain. Sri Lanka is no longer in isolation. As a nation, we need to connect our citizens and businesses to the global system. In this process, Sri Lanka has become a signatory to several global conventions. Our intention is to continue those engagements and harness more benefits.

¶ 03 It is important to emphasize our approach regarding foreign relationships to attract investments. Whether local or FDI, we need a proper framework to safeguard investors. That is why the Budget has, for the first time, proposed investment protection Acts, providing certainty. Also, we aim for zero tolerance on corruption when investors come in.

¶ 04 A short while ago, Hon. Namal Rajapaksa said the Opposition opposed investments historically. Not investments, Hon. Member—we opposed opaque, commission-driven, plan-less projects. We all heard of “Mr. Ten Percent”, “Mr. Twenty Percent” commissions. The present Government prepares proper procedures, transparency, accountability, under a national plan.

¶ 05 Two weeks ago, with the Hon. Minister of Industry and Entrepreneurship Development, I visited Jaffna. We identified investor-ready sites: the long-abandoned Kankesanthurai (KKS) Cement Factory premises; Paranthan to be developed as an industrial chemical zone; Mankulam as an industrial zone. The BOI Chairman joined us. We consulted Northern politicians to shape the best approach. This is a consultative, transparent process.

¶ 06 On foreign policy, before the Presidential Election we clearly indicated we would not derail from the IMF Programme. We kept our promise and negotiated best benefits within it. On debt restructuring, though we preferred a different, more beneficial arrangement, an MoU was signed two days before the election; as a responsible Government we proceeded to ensure confidence and stability and attract investors. The Official Creditor Committee’s intense discussions continue; several agreements are signed; Japan and India as Co-chairs have supported expediting outcomes.

¶ 07 We must use economic, security (given our maritime location), intelligence-sharing (given the drug menace), social, science and tech, political, cultural and people’s diplomacy. On people’s diplomacy: we must create a positive image of Sri Lanka to promote tourism. Tourism is not only to earn money; we want to educate visitors about our 2,500-year-old civilization—our maritime trade, structures, judicial systems, hospitals with surgeries, advanced irrigation achieving one inch per mile gradients.

¶ 08 We welcome global citizens to experience Sri Lankan hospitality. As a result, Sri Lanka has been identified as safe for solo travellers, a family destination, with outstanding beaches, sunlight, clean air, and as a clean country. Through the Clean Sri Lanka Programme, we collectively engage people.

¶ 09 Within a short time, our multilateral and bilateral ties have been strengthened. The World Bank and ADB have extended further support and funding; Japan has restarted stalled projects; China has committed US$3.7 billion of investments; with India we have ongoing discussions to materialize several investments. Strategically, we seek best commercial benefits while maintaining sovereignty.

¶ 10 We focus on investments, exports, job creation and knowledge transfer. The Budget emphasizes foreign earnings, including remittances. Sri Lankan businesses investing abroad generate profits; we will support them. We target increasing exports from US$19 billion to US$40 billion within five years by diversifying markets, products and exporters, engaging more districts in value addition, and entering mutual trade-facilitation arrangements. International trade is two-way; hence the National Single Window will facilitate smoother operations at Ports, Customs and for businesses.

¶ 11 We also want to strengthen extradition treaties to bring back criminals sheltering abroad and subject them to due process.

¶ 12 Tourism promotion gets substantial allocations to promote identified destinations across the country, avoiding concentration. City branding will continue—Colombo has several high-end, high-value hotels but limited city tourism activities; we will support city-based attractions so families in or transiting Colombo have multiple engagements.

¶ 13 We must also connect Sri Lanka to global knowledge value chains—on climate change, climate resilience and showcasing leadership in renewable energy during the energy transition. We will invite investors with a level playing field, transparency and efficiency. The Budget increases key allocations—for example, from Rs. 16,000 million in 2023 to Rs. 21,463 million in 2025, and from Rs. 19,000 million in 2024 to Rs. 21,463 million in 2025.

¶ 14 Several key areas of spending include rehabilitation and improvement of overseas capital assets, acquisition of new capital assets, capital transfers, capacity building of mission staff, and specific allocations for the tourism sector, the National Oceanic Affairs Committee Secretariat and the Lakshman Kadirgamar Institute. We are determined not merely to allocate but to implement swiftly to deliver economic opportunities and benefits to our citizens.

¶ 15 Thank you, Sir.