INSUBCONTINENT EXCLUSIVE:
Emphasizing the urgency to expedite joint initiatives, President Wickremesinghe highlighted a comprehensive agenda aimed at transformative
the energy sector, aiming to foster new development for the Northern region, which has been deeply affected by three decades of
India Partners Meet in Colombo, Sri Lanka from June 20-22, 2024, was collaboratively organized by KPMG in India and KPMG Sri Lanka
The annual meeting of the India Firm is one of the largest events hosted in Colombo, with over 600 India Partners and their families
Ranil Wickremesinghe by the Chief Executive Officer of KPMG in India Yezdi Nagporewalla and the Managing Partner KPMG Sri
Sri Lanka, in Colombo, holding this meeting
It shows on one hand the close friendship that our two countries have, and on the other hand, the confidence that you have in Sri
of the IMF, which was quite successful and are preparing thereafter to meet with our creditor nations, the Paris Club, India and others, who
meet at the official creditors committee next week, and also carrying on discussions with China with the Exim Bank of
With this, we are ready to sign the agreements with our official creditors and with the Exim Bank of China
So next week, on Wednesday, we will be meeting with the OCC, and also in the course of next week, we are carrying out discussions with the
And I hope by next week, or thereafter, that we will have come out of this phase of bankruptcy and into the next phase as we go
The key question is defining what this return entails
Returning to business as usual would mean continuing as an import-dependent economy, leading to on-going borrowing to fund imports and
perpetuating a harmful cycle
objective is to gradually shift towards becoming a competitive, export-oriented economy, marking a significant goal
transformation: moving towards a highly competitive, digital, green, and export-oriented economy
To address this, we have drafted the Economic Transformation Bill, currently undergoing pre-legislative scrutiny in Parliament and the
assume responsibilities from the BOI to drive investment, a dedicated agency for managing investment zones, an International Trade Office to
enhance global trade, and a National Productivity Commission to boost productivity
Furthermore, the Institute for Economics and International Trade will serve as a think tank, bringing together economists and experts to
When I was in Delhi last week, I discussed with Prime Minister Modi the need to accelerate the joint program that we have decided, agreed on
So the major ones are identified, and Foreign Minister Jaishankar came down today to have a discussion
First is the grid interconnection between Sri Lanka and India, so that sustainable energy can be transmitted to India, where you all need
We have the Sampur solar power project, which is a Government to Government (G2G) project, and a three island project, which is where we
Polk Straight for wind energy and solar energy, both countries to get together and have a , large farm for solar energy, for renewable
energy, we have also discussed India helping us to expand the Kankasanturai port, which is the major port on the Jaffna Peninsula, and to
ensure that more business comes into the port
production in the country
to establish a land connectivity between Sri Lanka and India
Extensive discussions have also taken place regarding expediting the Trincomalee Development Project, which encompasses industrial
investment zones and tourist areas
Furthermore, plans are underway to construct a multi-product oil pipeline from Nagapatnam to Trincomalee, pending the final observation
Trincomalee is poised to become a hub for oil refining, with the development of ports and investment zones, transforming Trincomalee Port
earmarked for hotels in Galle and southern areas
Moreover, there are plans to establish more investment zones across the country, alongside expanding our professional training programs
Lankan people, highlighting his role in guiding the nation towards a promising future amidst various challenges
societal cohesion have earned both national admiration and international acclaim, positioning Sri Lanka as a model
other member firms of the KPMG Global network joined this meeting, while other leading Indian business and industry luminaries also
