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Colombo International Financial Centre:
The government aims to offer a wide ranging
product mix in the centre, including banking, capital market, wealth
management, global processing, alternative financing, insurance and
professional services. “The shipping sector will also be
encouraged,” Rajudin said, in a presentation at the Colombo
International Maritime Conference,
The government hopes to have a special economic
zone in Trincomalee and a new container handing facility in the Port
of Trincomalee while another economic zone will be set up in the
Ruhuna region and further develop ports and the maritime industry
with the aim of becoming a hub, Prime Minister Ranil Wickremesinghe
said last week.
Biz community on Budget 2017:
The government commenced preliminary work in
formulating its second Budget which will be presented to Parliament
in November. The 2017 Budget aims at creating one million jobs,
increasing income, rural economic development, affirmation of land
ownership, as the midterm targets of the government.
Sri Lanka will record five percent growth this
year and the next amidst ups and downs, the International Monetary
Fund (IMF) team reviewing the economic progress of Sri Lanka under
its Extended Fund Facility (EFF) program to support the country’s
economic reform agenda, said last week. The team commended the
authorities for implementing the IMF program under tough conditions
with all quantitative targets through end June being met.
The Financial Intelligence Unit of the Central
Bank of Sri Lanka (FIU - Sri Lanka) recently entered into a
Memorandum of Understanding (MOU) with the Suspicious Transaction
Reporting Office of Singapore (STRO). It will be the basis of
reciprocity and in the spirit of cooperation and mutual interest,
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