Former President Ranil Wickremesinghe has raised concerns over Sri Lankas failure to progress with massive foreign investments, cautioning that the stalled USD 700 million Adani project alone is a significant obstacle for the nations financial recovery.Adanis task is about USD 700 million.
Thats no joke.
We require that cash to recover, Wickremesinghe stressed, pointing out that extra advancement projects in Trincomalee could have generated another USD 400500 million.Just imagineover a billion dollars in investments have been stopped, he added.Joining Ada Deranas present affairs program @Hydepark just recently, Wickremesinghe likewise expressed disappointment over Sri Lankas unpredictable position on these jobs, especially in relation to its dedications under the 2023 Indo-Sri Lanka Vision Document.Most of the Indians I met recentlyit was embarrassing for me.
I told them these jobs were under factor to consider, but the fact is, I do not understand whether they are still being considered or have been turned down, Wickremesinghe admitted.He cautioned that delays in these financial investments might harm Sri Lankas financial ties with India and hinder other potential investors.Once India purchases us, others will follow.
By 2050, India will be the worlds second-largest economy.
We need growth, and the only method to accomplish it is by dealing with other nations and producing an attractive environment for foreign investment, he stated.While acknowledging that Sri Lanka has reached a point of financial stabilization, Wickremesinghe worried the need for long-term reforms.Right now, we are just stabilizingnothing more.
To move ahead, we need significant modifications.
We dont require to be poor.
We can develop a trillion-dollar economy, and we need to go for it, he noted.