‘SL can become regional trade hub’ | Sunday Observer

‘SL can become regional trade hub’

16 September, 2018

Sri Lanka needs to make progress in the area of implementation of development projects to realise its set ambitious target of becoming a regional trade and financial hub in the region.

“We see that the Government is implementing several projects over the last two years in the country. That means something is happening but I don’t think the entire private sector is happy with that,” Asoka Peiris - Chief Executive Officer, Singer Sri Lanka PLC said. He also made a remark on the pace and extent of development projects undertaken in the Polonnaruwa district in the recent past and said “if the Government can do things at that speed and that extent that will be a major turn around and milestone in this country,” he told the Ceylon Chamber of Commerce’s Economic Summit on Thursday.

He also stressed the need to transform Sri Lanka into a retail hub in the region.

“We have taken up this matter with the relevant authorities to make this ambition a reality as we think we have the potential to become a preferred retail hub in the region,” he said,

He also hailed the Sri Lankan government’s recent measures, taken to provide VAT refund -15 % of the value of the goods purchased by foreigners during their stay in Sri Lanka.

Under this scheme, which came into effect from 11, September, the tourists would be able to receive the VAT refund -15 % of the value of the goods at the Bandaranaike International Airport (BIA) after the bills are produced.