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President attends investment, trade & tourism forum in China

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During the official four-day visit to China, President Ranil Wickremesinghe attended a prominent investment, trade and tourism forum with a strong focus on fostering future business opportunities. President Wickremesinghe extended a warm invitation to Chinese entrepreneurs, encouraging them to view Sri Lanka as a strategic hub for emerging green and digital economic ventures, highlighting the nation’s significant advancements in this domain.

This forum, hosted at the Sri Lanka Embassy in Beijing yesterday (16), was graced by the presence of representatives from a multitude of Chinese companies, some of which have already invested in Sri Lanka, while others are exploring investment prospects. Distinguished Sri Lankan business leaders were also present, eager to explore collaborative opportunities.

Addressing the Chinese business community, President Wickremesinghe underscored Sri Lanka’s unique geographic advantage, positioning it as a gateway to Western markets within the broader Asian region. The President expressed the country’s strong desire to engage amicably with global economic powerhouses and reaffirmed his commitment to rebuilding Sri Lanka’s economy.

Notable government officials, including Minister of Foreign Affairs Ali Sabry, Minister of Transport and Mass Media Bandula Gunawardena, Senior Advisor to the President on National Security and Chief of Staff Sagala Ratnayaka, Governor of the Central Bank Dr.Nandalal Weerasinghe and Chairman of the Board of Investment Dinesh Weerakkodi, were also in attendance, addressing inquiries from the Chinese business community.

(President’s Media Division)

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Presidential Poll can be held with Acting IGP – Fmr. Election Chief

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Former Chairman of the Election Commission Mahinda Deshapriya said there is no obstacle to holding the Presidential Election with an Acting Inspector General of Police.

He said he believes the current IGP can hold the position he held before until the court hearing concludes.

He said he believes a suitable person should be appointed as Acting IGP tomorrow, adding that there may be no IGP until the hearing concludes, but the election can be held under an Acting IGP.

He added that there is no issue because if the country is governed under an appointed President, it is not a big deal to conduct the election under an Acting IGP.

(News1st) 

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Japan officially notifies SL to resume disbursement to Yen loan projects

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Following the completion of the signing of Memorandum of Understanding (MOU) between the Official Creditor Committee (OCC) and Sri Lanka on 23 July and the expression of the willingness by the Government of Sri Lanka to swiftly conclude a bilateral agreement on debt restructuring, the Government of Japan has officially decided to resume disbursement to Yen Loan Projects, which had been suspended since the default of Sri Lanka in 2022.

On 24 July, the Government of Sri Lanka, the Embassy of Japan and Japan International Cooperation Agency (JICA) Sri Lanka Office held a joint press conference to inaugurate this milestone decision at Ministry of Finance.

While congratulating the completion of the MOU on debt restructuring between Sri Lanka and the OCC, Ambassador MIZUKOSHI Hideaki highlighted the unprecedented initiative and outstanding contribution by the Government of Japan, as a co-chair of the OCC, in leading and concluding the public debt restructuring.

Ambassador Mizukoshi also commended Sri Lankan authorities for their ongoing efforts in implementing the comprehensive economic and social reforms essential to guide the country back to a sustainable path. He stated that all the suspended yen loan projects are crucial infrastructures that promote Sri Lanka’s economic growth and further reaffirmed Japan’s continuous and unwavering commitment to supporting Sri Lanka.

On behalf of Mr. Yamada Tetsuya, Chief Representative of JICA Sri Lanka Office, Ms. Ide Yuri, Senior Representative, handed over the official letter on this decision to Mr. Mahinda Siriwardana, Secretary to the Treasury, which is addressed to President Wickremesinghe from Dr. Tanaka Akihiko, President of JICA.

Ms. Ide Yuri expressed her hope that the resumption of Yen loan projects will contribute to stabilizing the economy and society of Sri Lanka and help gain momentum toward long-term sustainable growth, thus paving the way for Sri Lanka to recover trust and confidence from the people and private businesses of both Sri Lanka and the world.

Secretary Siriwardana expressed his profound gratitude for this decision and sincere appreciation for Japan’s excellent initiative and long-term dedication in the debt restructuring.

It is hoped that the resumption of disbursement to Yen loan projects would further strengthen the bond between Japan and Sri Lanka, as well as help this island nation bring itself back on track for further economic development, serving as a hub in the Indian Ocean.

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Cabinet takes decision following SC order on IGP

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During a special Cabinet briefing today (July 24), it has been decided to announce its response to the decision of the Supreme Court regarding the Inspector General of Police (IGP) within the next two days after studying in depth the legal aspects of the matter.

The special cabinet meeting chaired by President Ranil Wickramasinghe was held this evening at the Presidential Secretariat in Colombo.

The Cabinet of Ministers had been of the opinion that since the decision of the Supreme Court regarding the IGP was received only this afternoon, adequate time is needed to conduct an in-depth study of the related legal issues.

Accordingly, it was unanimously decided that it would be most suitable to announce the response of the Cabinet in the next two days.

Earlier today, the Supreme Court issued an interim order preventing Deshabandu Tennakoon from performing duties and functioning in the position of the IGP.

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