Nov 10, 2017

Brief comments on the 2018 National Budget:

The introduction of the new concept to encourage the Business Environment by the name of “Enterprise Sri Lanka” would be a positive step taken by the government towards business development. Under this programme the government is proposing the development of Woman Entrepreneurship, SME Development and Agri and Plantation sector development etc. Additionally the government is proposing to introduce a Development Bank to support the financial needs of the SME Sector. The encouragement provided for deep sea fishing and infra structure facilities for Fisheries Sector is also appreciated.

The development proposals focusing on Tourism Sector will also help the economy to be expanded. The Information Technology Sector, has been given greater attention with the intention of increasing Forex earnings reaching US 5 Billion in the next years to come. Further the government is proposing to develop the capital market by introducing many reforms with a special focus on the State Banking sector.

The proposals to develop the Road Infrastructure in the country will also have a positive impact on the economy and also the positive proposals put forward by the government on managing the solid waste in the country and reduction of taxes on all electric vehicles is commendable.

The National Chamber of Commerce of Sri Lanka is accepted to release a much more detailed analysis to the Press by Monday, 13 November 2017.

(Sujeeve Samaraweera - President – The National Chamber of Commerce of Sri Lanka)