The Hon. Nishantha Jayaweera

¶ 01 Under the classification, a technical correction is being introduced for land parcels and streets under the Sixth Amendment to the regulations.

¶ 02 Let us consider why we make such corrections. On our journey to make our people prosperous and ensure a better life, we have already steered the economy towards a targeted trajectory. A key prerequisite for that journey is to attract more Foreign Direct Investment (FDI) and other foreign investments into our country.

¶ 03 Looking at the last three to four years, after the National People’s Power Government came to office, a record level of FDI amounting to USD 1,057 million—over USD 1 billion—was secured in 2025. Our target is to raise FDI to around USD 2 billion in 2026. Reforms like these are intended, primarily, to provide the necessary facilitation.

¶ 04 Consider the importance of FDI for a country like ours. In the 2026 Budget, we aim, in the medium term, to reach a 7 percent growth rate, achieve stronger economic performance, widen the base of the economy, and ensure that benefits flow back to the people without exclusion. In that context, FDI is a decisive factor. Accordingly, we have taken policy and legal measures to attract more FDI.

¶ 05 We identify four main pillars to attract FDI. First, investors look at a country’s political and economic stability. We have now ensured strong political stability and taken the economy to a more stable level. Yet, in 2025 the Government faced two unforeseen challenges: the tariff policy imposed by the United States and the “BOO” storm situation that none of us anticipated. Even amidst such challenges, we stabilized the economy, targeted about 5 percent growth, and presented the 2025 Budget with the lowest deficit in history. Thus, we have met the first requirement to reassure investors.

¶ 06 Second, investors look at infrastructure. In the 2026 Budget, we have allocated around 4 percent of GDP—about Rs. 1,400 billion (Rs. 1.4 trillion)—to enhance physical infrastructure. Within this year, we plan to extend the expressway network by 50 km; improve 25,000 km of national and provincial roads, and 100,000 km of rural roads; add five new train sets to public transport; and put around 900 new buses into service. We are also taking steps to ensure uninterrupted power supply, including proposals to use hydrogen with battery backup systems. For data infrastructure, we are improving data centres and telecom towers. These physical measures significantly enhance investor confidence.

¶ 07 Third, we are advancing the digital economy. We have established a Ministry of Digital Economy to develop strategy and implement plans. A key reform is introducing a National Single Window system so investors, via remote online access, can coordinate with all required agencies and complete processes quickly. On the trade facilitation side, Sri Lanka Customs has already rolled out a Single Window to assist importers and exporters, enabling pre-arrival processing and speedy clearance.

¶ 08 Fourth, we are strengthening skilled labour within the country.

¶ 09 Fifth, tax incentives: We have recently introduced amendments to the Colombo Port City Economic Commission Act to grant incentives based on the scale of investment and the number of jobs created—both for foreign and domestic investors—using the Strategic Development Projects Act framework.

¶ 10 We are also preparing the Investment Protection Bill and the Investment Promotion Bill to strengthen investor confidence and encourage both foreign and domestic investments, thereby broadening the economy and raising growth. Despite attempts by the Opposition to sow uncertainty over energy and infrastructure adequacy, the Government is firmly committed to ensuring uninterrupted power for people and investors. I urge investors not to be misled by such baseless allegations.

¶ 11 Thank you.