Professionals to net more forex

Expatriate worker remittances will rise sharply this year following the increase in the migration of professionals and skilled workers and the improvement in facilities provided to foreign workers by governments, the Ministry of Finance and Planning Annual Report stated.

Foreign remittances continued to be the primary and stable foreign exchange earner for the country last year with contributions increasing significantly compared to the previous year.

Worker remittances increased by 70 percent to US$ 6,407 million last year due to the rise in the number of migrant workers to 293,105, increased migration of professionals to 15.6 percent, skilled workers to 6.9 percent, increase in job opportunities in high wage paying countries such as Korea and Singapore and foreign remittance earnings to Sri Lanka.

The report also stated that steps have been taken to improve workers' skills through training centres and granting tax concessions to encourage institutions providing professional training to those aspiring for overseas employment.

(LF)