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For these types of events.
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We are recovering.
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The president appoints a task force to manage the recovery and rebuilding efforts.
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The task force is chaired by me, and we have representation from public, private, and civil society in the task force.
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We have eight subcommittees that are looking at the various aspects that need rebuilding and need recovery, and we are ready to move on.
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And in that sense, 25-26 for us was a year in which we really wanted to focus on growth, on uh sustaining the uh sustaining the macroeconomic fundamentals that we had achieved in 2025.
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Uh, and we are hopeful for this.
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And uh this is when I think you come in.
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Uh we are uh we are we are very uh keen on establishing uh a transparent investment climate, an accountable investment climate, ruling out corruption.
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Uh again, Minister Aniel Janta will tell you of some of the initiatives that we have already undertaken.
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And this year in June, we are hosting uh an expo.
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And I would like to extend an invitation to all of you to come to visit.
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Uh, as you know, even without an expo, Sri Lanka is a country worth visiting, uh, as I'm sure some of you know already, but do come and participate in the expo, and we look forward to uh giving a really good relationship and looking forward to many more uh initiatives uh from Switzerland in the in Sri Lanka.
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We think of Sri Lanka as a story of hope and optimism in this very chaotic world that we are living in today.
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Sri Lanka offers a story and a narrative that change is possible, that democracy is still alive and well, and that uh good governance can mean for something, can mean something, and can actually precipitate change that that is centered on the people that governments are elected to serve, uh, but also that these ideas can be held upheld, uh not just because we function on our own, but through cooperation and solidarity and collaboration with global partners.
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So thank you again for this opportunity, and uh I look forward to hearing your thoughts on how we can work together in the future.
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Thank you very much.
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Thank you, honourable Prime Minister.
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I would um uh pass on the words now to the Epic Finance Minister.
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Please thank you very much.
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Good morning to everyone.
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Um I hope that um Prime Minister's brief um uh the the current uh situation of Sri Lanka and what we are, what we are supposed to do and the projection.
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I'll just give you like uh very brief um um idea from investor uh the perspective so that you um would like to know more.
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So basically um investors like uh operate in a wide array in different forms.
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Um may financiers, financial providers, some may be um real uh uh manufacturers and different that type of operations are there.
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So basically uh it's a fact that investors look for a better return, sustainable return, and low risk, and your confidence in the investment culture.
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Already you have some assessment about Sri Lanka and our government and future potential for investment as well from your assessment, information that you have gathered and the way you have read our government.
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But from our side, as well, also just give you little bit information who we are, what we are supposed to do.
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Because um, at the very beginning, it is a fact that um we have been labeled that even before we formed the government, even after forming the government, we have been labeled as extremists, more violent.
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So some diplomats basically were just having discussions now.
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Some diplomats just told me um we were shocked to hear the news that uh Sri Lankan uh uh in Sri Lanka, the party, extremist party, has captured power.
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So they were really told at that time.
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So after one year, uh the performance, now they are really happy to see how Sri Lanka is governed by respecting the good governance, democracy, and government.
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So we face lots of challenges.
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The first challenge already the time was explained.
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So, how this week would establish like uh the GP stabilization.
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That was the biggest challenge.
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We did it from two fronts.
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One is the uh fiscal consolidation, and we did it not only that, uh it was the year 2025 of the year in the history that reported the highest, the the uh highest in a way, like uh not the highest, but that the um no year has surpassed the estimated government revenue.
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So that's the year we surpassed uh by 10%.
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So that's a great achievement that uh gave us a big uh uh uh breathing space.
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As a result, we were able to build huge cash buffer, that is how we quickly react to uh this uh to the uh disaster.
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The other area is um the external uh buffer, external sector.
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It was gradually being ruined, but uh we were able to within a year uh to bring it up to a level not by like restricting the economy, like you can build your reserves without importing, but we opened up importation, vehicle importation, debt repayments, you know, all those things.
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And on the other hand, we expanded uh revenue generations part as a result.
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We strongly believe that um we are on a comfortable seat.
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The challenge now is to achieve the medium-term um the growth, sustainable and inclusive growth, um more than seven percent.
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It's challenging, but key driver is nothing but trade and investment.
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So where you guys can be a part of this journey, and um, there are lots of opportunities available.
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Um, strategic priorities are there in the energy sector, we can discuss rated, and the tourism has also been identified as another important area, and um the value-bedded industries, especially mineral-based, even though we are not that frequent within week.
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So there are certain opportunities that we are uh the uh the elements are there, then we focus on these value-added industries and logistics, another uh the area we can think of.
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Um uh prioritize from some other opportunities you may suggest during our discussions.
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Um the other side is investing environment.
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What do you want?
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Um it's a fact that everyone likes to have a conducive environment, a level playing field.
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When investors deal with governments and investors engage in different projects, it can happen in different ways.
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When you have so much connection with the government, maybe favorism, so that's also one will.
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So our policy is to not to favor selected and to discriminate any investors but to create a level-paying fee.
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To that, um the perspective already the digital economy is on its uh agenda.
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Uh, we try hard to um integrate all these sort of platforms and um agencies together to facilitate investors.
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And two main uh investor facilitation projects are going on.
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Hope that we will be able to launch in this year.
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One is a single window to facilitate for uh the foreign investment, the other one is the national uh trade single window to facilitate exporters.
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So um we hope that that would be launched in 2026.
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And in this year, we will enact uh Investor Protection Act.
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Uh, some changes and amendments have been already uh put into the legal framework.
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New amendments will also mainly investor protection is needed, and the relationship between investors and other stakeholders should be on three uh kind of uh democratic platforms, and um taxation is another area.
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Hurrung other tax structure is complicated by the time we uh took the government.
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We made some changes during the year, but in the future also we would do such changes in line with the basic principles of taxation.
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We are taxation convenient and simple.
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We comply with government principles, and we do not have an idea of just make changes, adopt changes from time to time.
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Then investors can easily plan um their businesses, cash flows, and reduce the risks and the volatility.
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So, this is how we have those of the investor uh the environment and the facilitation.
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Uh, with that, uh conclude, leaving uh you to raise some more questions and things.
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And one thing on behalf of uh Prime Minister and the government, I can say we own the government, we came into politics with a genuine reason.
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That is uh none other than to transform Sri Lankan society to a better place.
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So we uphold that the mandate and will never conflict our personal interest in the public interest.
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We hope that we have been doing this thing in the future.
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Also, we are capable of doing this thing.
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So your support, your contributions are right, important.
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Um in the future, we will contribute together and um bring the benefits of this chance prosperity.
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Thank you so much.
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Thank you so much.
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It's really refreshing to hear you both, and I can only encourage you to um do this more often, to tell the world how you change.
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And I hope this venue here in Davos has encouraged you as well to do that so that you are heard in the world.
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We are insiders for Sri Lanka, but you admire your country and have been there for over 20 years, but the rest of the world doesn't.
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So I think um we can maybe uh take a little bit from the man who spoke yesterday, the big marketer.
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Um doesn't have to be that extreme, but I think you are a wonderful country and um you do good and you have to talk about it.
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So I can only encourage you to continue to do that.
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Um with this, I would like to maybe break the eyes with the first question and then leave it to the podium, uh and to you as well.
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Um I cannot resist as an economist and asset manager to um get what's happening in Sri Lanka in contact with the stock market, uh, which has been thriving in the last few years, and um, you know, sometimes uh is is known as a precursor for the actual economic development in about six to eighteen months.
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And Sri Lanka's indices last year rallied over 26%, previous years were were good.
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So they anticipate an economic recovery in the months to come.
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Inflation is down at 2.1%, unemployment rate at 4.3.
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Do you view this already as a sign in the real economy that the market is right?
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Okay.
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Yeah.
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So coming to um the investment and stock market and the real economy, um as far as the uh the the economy performance uh the indicators um that show um that um the right stabilizer stabilization is there, but uh much more is required to um attract and promote investments.
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The one the place is the capital market to form the required uh the capital for real investments.
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To some extent, we know that um the stock markets, financial markets is a place to have a kind of return, and um it shouldn't be a gambling place.
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So in the past, uh there were lots of uh allegations about the stock market, um uh about the insider dealing and all.
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Now we have been able to uh stabilize it, and again the regulator's task is independently independently done, and um that is the reason why we gradually the return in a way like uh exceptional return could be due to a reason in the past uh the market was really, really down.
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Now it is really picking up, and now the the regulator doesn't leave a single room for manipulation, so a couple of weeks' time you may have noticed um one IPO, uh the Wealth Trust IPO.
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Um what happened?
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The the uh initial the price was just seven rupees.
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But on the same day, so it went up to 25,000.
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Uh so whether it is a manipulation or respect, you must have already noticed.
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But the one thing is that market was already almost about to just break.
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Uh unfortunately, there was no circuit breakup for the IPOs, but the regulator intervened correctly and purge all the transactions we are investigating as of now.
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That's been revealed that uh it's not a deliberate fund, but we are looking at that.
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So the capital market would be uh place for us for you to invest uh uh reliably, even for trading, based on information.
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What matters is the information, but not the uh speculation or intuitive uh the practices.
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So we will do all these required things from the government side, and again for future investment as well.
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And government has an idea of uh floating the some of the state-owned enterprises within downside lap of gold income and in the future, maybe in um uh different uh SOAs are there.
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So this is the plan for stock market and uh the government uh what is called uh state-owned enterprises.
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Um yes.
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Thank you for um these um clear answers.
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Um I hope there will also be some privatizations going on to uh make sure that yeah, in a way, like uh the word privatization is also promptly interpreted in Sri Lanka.
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The privatization when the ordinary person in Sri Lanka here the privatization is involved, the cheap selling of assets.
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Um we in a way we do not like to hold the word as privatization, we prefer to have the restructuring of reforms in state-owned enterprises.
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There are many avenues.
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Now legal reforms will be there for public-private partnerships, joint ventures, and strategic business activities likewise.
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Um because when we say the privatization, lots of resistance is there.
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What we prefer is to have these joint collaborations and a partner.
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I think the opportunities are open.
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Very good.
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Thank you.
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Maybe we have some first questions from the audience.
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Yeah, uh, first of all, excellency, thank you very much for having us this morning here for lovely breakfast.
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Actually, I'm Swiss, I've never been to the host because I was always scared of the trafficker as well, you know, but I made it.
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Um, so I have different hats on, you know, I'm working for impact investment solutions.
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We have our own foundations, and also here these two nice gentlemen from the International Spiritual Council for Transforming Humanity.
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Um, my basic question is education is very important in an emerging market and growing market like yours.
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And I heard from some people, also from your system, that you place particular emphasis on education.
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Can you elaborate a little bit on that?
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What the primary goals are in over the next couple of years.
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Right, thank you for that.
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This is my hobby also stop me if I talk too much.
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Sri Lanka has a history of a really strong education system.
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We invested in education very early on from the 1930s, and we have a public fund, publicly funded education system from grade one, starting at grade one, right after your university level, it's free.
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So as a result, we uh very early on, by about the 1950s, we were able to uh really increase our literacy, increase access to education, enrollment at the primary level is almost 97% of the 97-98%, and it's equal for girls and boys, which is very unusual in uh South Asia as you well know.
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Uh and we have a we have good human capital.
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This is our greatest trend.
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We produced uh very uh you know sound professionals that don't only serve Sri Lanka but serve uh many parts of serving many parts of the world.
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However, uh what has happened over the years is that there's a growing inequality in the quality of education.
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So not everybody is able to access a high-quality education, and increasingly the quality of the education you're able to access is uh dependent on your uh sort of family background, uh, economic status, all of these things.
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Also, uh there is a mismatch between the skills that are required today and the skills that are being taught within our education system.
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Our education system is once again yet another legacy of uh colonial uh rulers.
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We have to follow the British model of education and it's very uh exam-oriented.
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So increasingly within the schools, the education system caters to teaching to pass exams, and that's the main focus.
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So we want to change this.
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This is these are the main things that we want to address.
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We want to be able to use the resources that we are investing in education meaningfully, so that the quality we focus on the quality of education, which means investment then also in the human resources within education, which is teachers, so making sure they get good salaries, good training, that their professional development is continuous.
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This is one aspect.
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Uh, infrastructure development, so that uh across the board, uh schools generally have at least all schools have at least the 50.
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Minimum level of necessary infrastructure, including digital infrastructure, and a change in the curriculum and the education model where we want to introduce a vocational pathway fairly early on and allow for students, similar to what is happening here, allow for students to be able to choose either a vocational pathway or a traditional academic pathway.
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But both pathways could also lead to higher education and degrees and diplomas or what have you after 13 years of education.
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Currently, our vocation, we have a TVEC sector, but it doesn't have the same social value as the more traditional academic pathway.
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Primarily also because the vocational pathway is seen as the pathway that's open for students who don't make it to the academic pathway.
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So there's always a kind of a lower recognition given to students who are choose Tibet.
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So we this is the main, this is also one of the main changes we want to make.
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Plus, we, you know, I mean, all devos sort of was all about reskilling new jobs, the uncertainty with jobs.
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There's a lot of discussion around this.
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Countries such as ours are very cognizant of the complications of the new job offer, AI, all of this, and in fact it will have all the kinds of skills that we uh need to uh need to give us our population.
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But what we think is that I don't think we can ever sort of you know keep up with how rapidly things are changing.
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Uh but that are uh what we really want to focus on is skill or increasing the capacity of our young people, particularly, to be able to learn, lifelong learning.
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So that they work, they may come back for education, but they're able to pursue different paths.
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And there's more flexibility or not sort of fixed in one particular niche, uh, and that you're able to adapt to changing circumstances.
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So these are kind of some of the changes that we are trying to bring in.
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We are we started last year, the new curriculum for grade one is being implemented this year.
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We'll start on the 29th of January, and from next year we are introducing new curricula, but also this uh infrastructure and human resource development, which is about equalizing the uh the opportunities that are currently available.
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So this is in a in a nutshell what we are trying to do.
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Thank you.
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Julian Schwenko from R Systems.
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First, I'd like to thank again for the uh we had the pleasure to to host you on Tuesday.
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And uh I was overwhelmed uh about the reactions I got internally from uh old friends from Sri Lanka.
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Uh they chatted to me a lot and uh you asked me um for uh anything that uh that uh I may may give you as a hint uh to to make the uh uh our opportunities even better in Sri Lanka.
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And I got some hints from from my top colleagues.
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Um so they were asking about um uh two specific things.
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Um one is uh tax situation.
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Uh we uh during crisis we lost a lot of high potentials uh uh to other countries, so they uh they went away and uh cycling is did not completely solve.
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And uh one reason that they uh they they see is tax situation for them, so private tax situation and um at a lot of uh private tax in the sense uh individual income tax exactly 36 percent progressive tax okay exactly and uh this uh gives us a half time uh in our plans to uh to establish an engineering and IT hub with high-skilled engineers and uh uh high-skilled office workers.
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So that's one thing, and uh uh in addition to that, uh they were asking about this uh uh uh CP hub uh idea if this will come true because they see a huge potential that uh to to reach out out and so thank you thank you very much.
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Uh uh we will just take that into account and uh do that right, especially when it comes to the policy, apart from the um secondary um uh businesses, there are opportunities mainly in the uh financial sector as well for offshow banking and financing.
00:26:59.519 --> 00:27:06.880
Um the taxation uh as it is told you some complexities are here.
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We will look into this one because uh the current progress is rates starting from uh zero to 36, 36 reaches within uh 36 uh um reaches within the the short limit is 350,000.
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So we will do that, and the uh yeah, other thing is um now it is a fact that within the global scenario, now taxes not a problem because everyone has to pay tax.
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How it should be paid and whether it shouldn't be uh complicated or not, because now uh OECD uh the global tax framework is in operating and we are ready to expand the uh double tax, the treaties and agreements and the connection and integration.
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So we are by to provide the most benefits and transition for the investors.
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So we'll take them into account, and if possible, we will have more discussions uh to see how best we can fix it.
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Thank you.
00:28:14.160 --> 00:28:18.559
So in product account to say thousands of uh proceed keys and effects.
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Oh, yeah, yeah, we have this.
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Sure, thank you.
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So thank you so much.
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Uh here is we are happy to see here is because we are also motherland of Sri Lanka, yeah, more than 35 ACPS in Switzerland.
00:28:37.119 --> 00:28:42.400
My question is how we are investing the logistics provide today in this country.
00:28:42.480 --> 00:28:46.400
Is a we won't like to invest in the logistic sector.
00:28:46.880 --> 00:28:51.920
Is uh that the more information I will I would know that.
00:28:52.400 --> 00:28:52.720
Yeah.
00:28:53.279 --> 00:28:57.920
As of now, there are actually four channels, main four channels.
00:28:58.079 --> 00:29:00.480
One is um the BUI.
00:29:01.039 --> 00:29:10.079
Um so we are the particular information is uh given in addition, the the Ministry of Uh Force and Authority.
00:29:10.240 --> 00:29:13.519
So from time to time go through EOIs as well.
00:29:13.839 --> 00:29:32.559
But the general opportunities are displayed the website of C BUI, and the other one is Kalamboard City, so another channel, and um generally, like so that it has to go through uh this secondary or the primary the developers.
00:29:32.960 --> 00:29:42.319
Um now as far as the Columbo like logistics uh is concerned, Columbo the board is concerned.
00:29:42.559 --> 00:29:59.279
Now we have several um the terminals, those terminals um are operated through the private sector investments, and um we have um one with the pure owned by the government.
00:29:59.599 --> 00:30:09.920
We are exploring the possibilities of uh joining hands with uh the private investors to have public-private partnerships or join ventures, so in the future.
00:30:10.240 --> 00:30:18.079
Um the other one is DOI, or city, and public-private partnerships and join ventures.
00:30:18.319 --> 00:30:27.519
Apart from that, there is another channel what we call Strategic Um Development Act, Strategic Investment and Development Act.
00:30:27.759 --> 00:30:39.599
Accordingly, we can um take such investment through the fast track if that can be considered as a strategically important investment for stream.
00:30:39.920 --> 00:30:51.920
I think logistic uh operation would be such a strategically important because of the location and the opportunities that we have, uh the uh those factors are concerned.
00:30:52.240 --> 00:30:55.839
So it's a yeah, even like uh yeah, Makdala Airport.
00:30:56.000 --> 00:30:58.400
Um, don't know whether you have heard about this.
00:30:58.559 --> 00:31:02.880
In Hamban Totes, there is a second uh international airport called Matar.
00:31:03.119 --> 00:31:04.480
It's not operating well.
00:31:04.640 --> 00:31:18.000
Now uh the government has decided to hold for um uh interest from investors uh to come up with new proposals to operate it in a better way.
00:31:18.880 --> 00:31:22.319
Maybe within reports room, yeah, the call will come.
00:31:23.039 --> 00:31:23.759
Thank you.
00:31:24.240 --> 00:31:25.680
Next question, gentlemen.
00:31:26.480 --> 00:31:28.400
No, he has first.
00:31:31.279 --> 00:31:35.119
So honourable prime minister, thank you so much for coming.
00:31:35.759 --> 00:31:42.880
I'm blessed to be a grandson of the first professor of IJ in Sri Lanka, Professor Cecil Silva.
00:31:43.440 --> 00:31:49.519
So it's my grandfather, and your aunt is staying in the La Serena, where my parents stay.
00:31:49.599 --> 00:31:54.400
So it's a small butt and Roman is a causal fine, very well known to you.
00:31:54.720 --> 00:31:57.839
Um Sri Lanka is very dear to my heart, to be honest.
00:31:57.920 --> 00:32:00.240
I'm of Sri Lanka, although I don't look like that.
00:32:00.480 --> 00:32:01.279
Apologize for that.
00:32:01.359 --> 00:32:02.480
I'm very here with Mr.
00:32:02.720 --> 00:32:04.319
Power, who is the founder of it.
00:32:04.640 --> 00:32:18.240
We want to support and engage in Sri Lanka in the health sector, like we have done that across Europe, across India, and it's something which is very important from our point of view to health is well-being.
00:32:18.400 --> 00:32:22.000
You know, to, and I think that's a huge asset in Sri Lanka for that.
00:32:22.240 --> 00:32:26.400
Second part, as you rightly say, is to educate children on the values.
00:32:26.559 --> 00:32:30.960
We have done that very successfully in India and would like to also propose that.
00:32:31.119 --> 00:32:40.240
And the third part is when I look at tourism in Sri Lanka, as a child, and I'm now 62 years, so I have many trips to Sri Lanka, more even than March.
00:32:40.559 --> 00:32:43.519
And for me, it was always a taste of paradise.
00:32:43.759 --> 00:32:50.799
Now, if I look at the tourism today in Sri Lanka, it is somehow also painful, although the numbers are very good.
00:32:51.039 --> 00:32:55.039
But I believe we can do something in terms of quality of the people.
00:32:55.359 --> 00:33:00.559
Like the German-speaking part of Europe, there's one million people who are interested in Iowa.
00:33:01.759 --> 00:33:04.480
I know I'm friendly to the Jet Will's owners.
00:33:04.559 --> 00:33:09.200
So, like that, you know, there are so much synergies, which I would like to get your guidance.
00:33:09.359 --> 00:33:18.400
Whom should I talk, or whom should we talk to who make this movement, which my grandfather started with the Family Granding Association 60 years back?
00:33:18.640 --> 00:33:22.079
How can we get ahead or work together with you?
00:33:23.039 --> 00:33:24.079
Thank you for that.
00:33:24.319 --> 00:33:33.039
You're right about the tourism industry in that we are also trying to shift from a focus on numbers to quality.
00:33:36.079 --> 00:33:42.799
One of the areas in the tourism sector that we think has huge potential is what you mentioned, the well-being industry.
00:33:43.119 --> 00:33:56.480
Uh, there is already jet wing is one, but there are also more uh independent uh initiatives that really uh target the well-being hospitality sector.
00:33:57.119 --> 00:34:12.559
And there's clearly a lot of potential for that, for help and well-being with our local IOB practices, but also uh, you know, other sort of spiritual, more spiritually inclined uh uh packages as well.
00:34:13.599 --> 00:34:21.280
Um the other thing that we are doing with the within the tourism industry is also to diversify the locations.
00:34:22.159 --> 00:34:34.400
Uh there are so many uh relatively unknown locations and sites in Sri Lanka that can easily be more uh tourist-friendly.
00:34:34.639 --> 00:34:42.800
Uh, and this will reduce the stress on some of the better known locations, which we also need to protect for years on.
00:34:42.880 --> 00:34:51.039
I mean, everybody knows CGI, but C Gilia also needs to be archaeologically managed and preserved.
00:34:51.199 --> 00:35:12.960
So we can't, uh you know, so what we're trying to do is we are uh we are trying to uh uh what's what I'm looking for to rehabilitate and make more popular houses of other such locations uh so that we reduce the stress on particular uh sites that we are currently experiencing.
00:35:13.280 --> 00:35:18.079
Um we would also like higher end tourism uh rather.
00:35:18.800 --> 00:35:33.920
We don't want to sound elitist and say we don't want black hackers, but that's uh we would we we are we are trying to focus on on the on the quality and the spending and the revenue rather than simply numbers.
00:35:34.239 --> 00:35:40.239
But in the initial stages, numbers were also important because we had dropped so significantly.
00:35:43.199 --> 00:35:50.559
This gave people the the confidence that this is an area that you can invest in, this is an area that you is attractive.
00:35:50.880 --> 00:35:57.760
Uh so yes, there's potential for uh collaboration in the health and well-being sector.
00:35:58.000 --> 00:36:05.599
I would say it's the tourism development authority that you need to contact and uh initiate discussions with.
00:36:06.639 --> 00:36:16.719
In addition, like um yes, tourism authority can be contacted, but if a particular proposal is there, yeah, so we have a separate now uh economic management committee.
00:36:16.800 --> 00:36:17.039
Yeah.
00:36:17.199 --> 00:36:19.840
Um by and large, in general, we look into that.
00:36:19.920 --> 00:36:22.960
So you can send that proposal to the finance ministry as well.
00:36:23.199 --> 00:36:23.519
Okay.
00:36:23.760 --> 00:36:24.000
Yeah.
00:36:24.239 --> 00:36:30.559
Because the the one thing which we are also looking into is to build a peace village in Sri Lanka.
00:36:30.880 --> 00:36:35.360
You know, like I have been in '83, in June 83, I have been in Gaul.
00:36:35.440 --> 00:36:38.239
And I mean, I don't need to tell you what this was there.
00:36:38.480 --> 00:36:41.199
I was an 18-year-old young boy at that time.
00:36:41.599 --> 00:36:47.119
And a peace village will limelite to the world, to the global world.
00:36:47.280 --> 00:37:01.119
A difference of uh resolving conflicts, they're almost conflicts, but I feel like what I can also uh uh uh with the previous speaker, uh we've I feel that you are general people and you want to change that.
00:37:01.199 --> 00:37:02.719
So that's how we could support.
00:37:03.679 --> 00:37:06.000
Thank you for the um matter of time.
00:37:06.320 --> 00:37:08.559
We have two and a half minutes left.
00:37:08.800 --> 00:37:15.119
So I would like short questions and short answers if that's possible, so that you can answer the airport.
00:37:15.440 --> 00:37:20.559
Shall we shall we take all the questions and then I just forgot to respond to questions?
00:37:21.840 --> 00:37:23.280
So um thank you very much.
00:37:23.360 --> 00:37:25.679
Um my name is Erika Show Klev.
00:37:25.760 --> 00:37:36.719
I'm half Swiss, half Indian, and I wear two hands I'm at the American Express Switzerland, the head of marketing, and also at the University of Singalen at the Indian Competence Center.
00:37:36.880 --> 00:37:47.119
So, given that uh role, I have two questions, and also because I just visited your country, it was one week in A Gauna, and your country says you come back for more, which I'm here now.
00:37:47.519 --> 00:37:59.039
Um the first question: Is your government engaging with the Swiss um government or EFTA to expand economic cooperation and in which areas?
00:37:59.360 --> 00:38:17.360
And secondly, um as an Indian, um as India already has uh with Sri Lanka closest economic partnerships, what are the new opportunities do you see for HI, private investors, including families, looking at long-term presence in Sri Lanka?
00:38:18.320 --> 00:38:19.519
Next slide, Sherman.
00:38:20.480 --> 00:38:21.920
Hello, Peter van Fill.
00:38:22.320 --> 00:38:25.840
I'll talk to both hats, uh especially the education one.
00:38:26.159 --> 00:38:34.320
Uh we were here in Education House uh launching the Teach Vivians Impact Fund to build education, innovation, infrastructure across the world.
00:38:34.480 --> 00:38:42.400
Uh this is one topic that I've been engaged with uh Sri Lanka since 2019, but we haven't found the funding for it.
00:38:42.559 --> 00:38:50.079
Uh the funding has always so now I'm engaging with the World Bank and ADB to see if we can uh make that happen.
00:38:50.320 --> 00:38:53.280
But I would like to continue this conversation at a later point.
00:38:57.360 --> 00:38:57.679
Yeah.
00:38:58.000 --> 00:38:59.039
Very small.
00:38:59.440 --> 00:39:01.360
I am uh Yudesh Mandani.
00:39:01.599 --> 00:39:05.519
I am president for Sustainable Steel Manufacturing Association of India.
00:39:05.679 --> 00:39:07.360
I have my own steel plants.
00:39:07.599 --> 00:39:12.000
So thing is Sri Lanka has a coastal listing and the ports are available.
00:39:12.159 --> 00:39:16.800
So can you think of creating a circular economic park in Sri Lanka?
00:39:16.880 --> 00:39:21.360
And we would be very eager and happy to be a part of that and invest into that.
00:39:21.519 --> 00:39:27.920
Because the European Union has come up with Sivan, which says that the every goods should have a minimum carbon footprint.
00:39:28.400 --> 00:39:32.480
And for that, we need a recycling activity to be done.
00:39:33.039 --> 00:39:34.719
The courts help in doing that.
00:39:34.880 --> 00:39:40.719
So if anyway, if we can think of creating a circular economic path, we would be most interested.
00:39:40.960 --> 00:39:41.840
Thank you.
00:39:43.280 --> 00:39:44.000
Well short.
00:39:48.480 --> 00:39:51.280
I'm an American veteran, uh, term financier.
00:39:51.440 --> 00:39:59.760
So as you ask for investment in uh Sri Lanka, uh, my main question is you know, we've heard about infrastructure, taxes, education.
00:40:00.000 --> 00:40:04.719
What are you doing to bolster or strengthen the Sri Lankan military?
00:40:04.880 --> 00:40:10.159
You know, as you're reforming a lot of these other current topics, that would be uh my question.
00:40:11.440 --> 00:40:13.280
Now one last question.
00:40:19.280 --> 00:40:19.760
Thank you.
00:40:19.920 --> 00:40:21.360
Um I'm Ben Balanci.
00:40:21.599 --> 00:40:28.159
So we have been developing countries uh on the impact of sustainability, and that's something I missed in this conversation.
00:40:28.320 --> 00:40:35.679
How can you have our policies which can support us to come in, set up businesses, invest in it, to develop Sri Lanka?
00:40:35.760 --> 00:40:38.559
I'm I'm I don't know Sri Lanka very well, I've never been there.
00:40:38.719 --> 00:40:42.400
So that was my uh question, and also how can we use the media?
00:40:42.480 --> 00:40:44.079
For example, we have the CNN.
00:40:44.239 --> 00:40:52.159
Can we bring CNN to Sri Lanka to increase the credibility of Sri Lanka on the business and investment world and tourism also?
00:40:52.559 --> 00:40:55.760
So, how much is the policy playing on this topic?
00:40:56.320 --> 00:40:57.039
Okay, thank you.
00:40:57.199 --> 00:41:02.159
Let me quickly take a few questions and then Kariya will answer some of the others.
00:41:02.320 --> 00:41:16.400
Uh, with regard to our how we view India and uh our our strategic location, I think I'll be able to encourage people to see Sri Lanka as an entry point for the Indian market, right?
00:41:17.199 --> 00:41:20.079
And for the Indian investors to also see that.
00:41:20.480 --> 00:41:41.920
Uh, because our our own market is small, but we are strategically located and we are we could be the hub that uh it forms the base on which from which you can enter other markets and we offer, I think, uh uh uh uh that that capacity which are with our human capital and also with our infrastructure and our regulatory environment.
00:41:42.079 --> 00:41:45.199
So that's uh something I think that we can offer.
00:41:45.440 --> 00:41:49.840
Uh they will probably answer the more specific questions.
00:41:50.079 --> 00:42:10.239
In terms of the military, uh we we are in the process of making a military or redefining the role of the military in a way, because uh as we experienced in the cyclone, post-cyclone, also the military was heavily involved in uh relief uh efforts.
00:42:10.400 --> 00:42:18.000
Um and uh we see that as potentially an important part for the military to play uh in the future.
00:42:18.159 --> 00:42:26.719
Uh our military is uh involved in peace, uh uh peacework with the UN, and this is also something that we pursue.
00:42:26.880 --> 00:42:45.119
We want uh uh our military uh to be more technologically uh uh adept, so we are investing in uh ensuring that our military is up to speed with technology because again that's an area of risk as well, right?
00:42:45.360 --> 00:42:57.840
So these are these are the ways we're not looking to enlarge our military, but we are looking to make it more efficient and more skilled, given the changing circumstances and the changing role that the military may have to play.
00:43:00.880 --> 00:43:01.519
Quick answers.
00:43:01.679 --> 00:43:04.400
Um is the opportunities that's already just answered.
00:43:04.719 --> 00:43:09.519
Mainly, um the sale as a have a big market.
00:43:09.920 --> 00:43:15.840
So now we need to think of how uh your investments on the global change.
00:43:15.920 --> 00:43:17.519
So this is four.
00:44:01.519 --> 00:44:07.360
The ammonia of in hydrogen projects or to promote data centers.
00:44:07.440 --> 00:44:11.199
So that has been taken as one of the key priorities in Sri Lanka.
00:44:12.719 --> 00:44:14.400
We explore the MPs.
00:44:14.559 --> 00:44:30.639
And other sports tell you within this building networks, infrastructure, roads, railways, the ports and all, the transportation, the electrification of transportation has also been identified as another key area.
00:44:30.800 --> 00:44:34.880
And no other solution is a circular economy.
00:44:35.039 --> 00:44:38.320
This is very important one, but we know that there are lots of challenges.
00:44:38.480 --> 00:44:46.079
As you said, we uh just think of um how this we can start this particular park pertaining to a particular industry, maybe steel also.
00:44:46.239 --> 00:44:56.159
I think that that would be really um and um the tourism sector, C N N A, but uh Sri Lanka.
00:44:56.719 --> 00:44:59.760
And there are no any barriers that they want to come back to.
00:45:00.159 --> 00:45:00.719
Yeah, of course.
00:45:01.519 --> 00:45:04.800
So there are no any policy um restrictions.
00:45:04.960 --> 00:45:23.039
So we will come and further we facilitate, we'll keep in touch, obviously can facilitate and uh tourism um already like um we explained, we look at tourism as an experience or within this wide array of different uh experiences.
00:45:23.360 --> 00:45:30.400
So if diversity can be experienced in Sri Lanka, uh we would facilitate and uh bring point as well.
00:45:30.960 --> 00:45:32.000
Thank you very much.
00:45:33.280 --> 00:45:35.760
I hope we you know we answer it.
00:45:37.840 --> 00:45:43.039
Do you have encouraging policies for investors coming for the kind of sustainable?
00:45:43.360 --> 00:45:44.239
Sustainable sector.
00:45:44.559 --> 00:45:45.119
Yes, yes.
00:45:45.840 --> 00:45:49.360
Actually, green energy and sustainable.
00:45:49.840 --> 00:46:09.920
Even um we have developed uh a strategic called green financing or strategic framework for 20 uh 2026-2030, within which we look for how what industries are therefore sustainable uh the investment and sustainable financing models as well.
00:46:10.159 --> 00:46:24.800
Maybe the new concepts, you know, like um green bonds and the what matters in the future is not the short-term profits uh the seeking, but rather the long-term sustainability and inclusivity.
00:46:26.320 --> 00:46:34.239
Thank you very much for this lively discussion, and I'm very thrilled to you know to see witness the great interest that you have.
00:46:34.400 --> 00:46:35.920
I'm very surprised also.
00:46:36.320 --> 00:46:44.480
And I thank you all for um uh answering uh these questions thoroughly and hope we can continue this.
00:46:44.639 --> 00:46:52.800
I'm sorry we have to break it now so that uh honorable prime minister uh can take their journey down to Zurich.
00:46:53.119 --> 00:47:03.280
But um sure we will continue the dialogue like this, and uh hopefully also next year we'll be able to include Sri Lanka in the Swiss Asia night.
00:47:03.599 --> 00:47:08.079
Um we were at Indonesia night yesterday.
00:47:08.239 --> 00:47:13.360
It's amazing what they do, and I think we can do a lot also for Sri Lanka next time.
00:47:13.519 --> 00:47:19.119
So thank you very much everyone for coming and hopefully back to Sri Lanka.
00:47:19.679 --> 00:47:20.400
Thank you.
00:00:03.680 --> 00:00:05.440
For these types of events.
00:00:05.839 --> 00:00:07.120
We are recovering.
00:00:07.440 --> 00:00:13.919
The president appoints a task force to manage the recovery and rebuilding efforts.
00:00:14.080 --> 00:00:22.239
The task force is chaired by me, and we have representation from public, private, and civil society in the task force.
00:00:22.399 --> 00:00:30.399
We have eight subcommittees that are looking at the various aspects that need rebuilding and need recovery, and we are ready to move on.
00:00:30.879 --> 00:00:47.840
And in that sense, 25-26 for us was a year in which we really wanted to focus on growth, on uh sustaining the uh sustaining the macroeconomic fundamentals that we had achieved in 2025.
00:00:48.240 --> 00:00:50.320
Uh, and we are hopeful for this.
00:00:50.560 --> 00:00:53.520
And uh this is when I think you come in.
00:00:53.759 --> 00:01:05.760
Uh we are uh we are we are very uh keen on establishing uh a transparent investment climate, an accountable investment climate, ruling out corruption.
00:01:05.840 --> 00:01:11.599
Uh again, Minister Aniel Janta will tell you of some of the initiatives that we have already undertaken.
00:01:12.159 --> 00:01:17.200
And this year in June, we are hosting uh an expo.
00:01:17.760 --> 00:01:23.200
And I would like to extend an invitation to all of you to come to visit.
00:01:23.439 --> 00:01:46.319
Uh, as you know, even without an expo, Sri Lanka is a country worth visiting, uh, as I'm sure some of you know already, but do come and participate in the expo, and we look forward to uh giving a really good relationship and looking forward to many more uh initiatives uh from Switzerland in the in Sri Lanka.
00:01:46.400 --> 00:01:52.799
We think of Sri Lanka as a story of hope and optimism in this very chaotic world that we are living in today.
00:01:53.040 --> 00:02:29.360
Sri Lanka offers a story and a narrative that change is possible, that democracy is still alive and well, and that uh good governance can mean for something, can mean something, and can actually precipitate change that that is centered on the people that governments are elected to serve, uh, but also that these ideas can be held upheld, uh not just because we function on our own, but through cooperation and solidarity and collaboration with global partners.
00:02:29.520 --> 00:02:37.520
So thank you again for this opportunity, and uh I look forward to hearing your thoughts on how we can work together in the future.
00:02:37.680 --> 00:02:38.800
Thank you very much.
00:02:42.879 --> 00:02:44.800
Thank you, honourable Prime Minister.
00:02:44.960 --> 00:02:50.800
I would um uh pass on the words now to the Epic Finance Minister.
00:02:52.159 --> 00:02:59.520
Please thank you very much.
00:03:00.080 --> 00:03:01.840
Good morning to everyone.
00:03:02.400 --> 00:03:15.599
Um I hope that um Prime Minister's brief um uh the the current uh situation of Sri Lanka and what we are, what we are supposed to do and the projection.
00:03:16.000 --> 00:03:28.719
I'll just give you like uh very brief um um idea from investor uh the perspective so that you um would like to know more.
00:03:29.199 --> 00:03:38.879
So basically um investors like uh operate in a wide array in different forms.
00:03:39.680 --> 00:03:53.039
Um may financiers, financial providers, some may be um real uh uh manufacturers and different that type of operations are there.
00:03:53.840 --> 00:04:11.680
So basically uh it's a fact that investors look for a better return, sustainable return, and low risk, and your confidence in the investment culture.
00:04:13.039 --> 00:04:26.560
Already you have some assessment about Sri Lanka and our government and future potential for investment as well from your assessment, information that you have gathered and the way you have read our government.
00:04:27.040 --> 00:04:34.639
But from our side, as well, also just give you little bit information who we are, what we are supposed to do.
00:04:35.040 --> 00:04:50.160
Because um, at the very beginning, it is a fact that um we have been labeled that even before we formed the government, even after forming the government, we have been labeled as extremists, more violent.
00:04:50.480 --> 00:04:53.519
So some diplomats basically were just having discussions now.
00:04:53.839 --> 00:05:07.279
Some diplomats just told me um we were shocked to hear the news that uh Sri Lankan uh uh in Sri Lanka, the party, extremist party, has captured power.
00:05:07.759 --> 00:05:09.839
So they were really told at that time.
00:05:09.920 --> 00:05:22.079
So after one year, uh the performance, now they are really happy to see how Sri Lanka is governed by respecting the good governance, democracy, and government.
00:05:22.399 --> 00:05:24.079
So we face lots of challenges.
00:05:24.160 --> 00:05:26.639
The first challenge already the time was explained.
00:05:26.720 --> 00:05:31.680
So, how this week would establish like uh the GP stabilization.
00:05:31.839 --> 00:05:33.199
That was the biggest challenge.
00:05:33.279 --> 00:05:35.040
We did it from two fronts.
00:05:35.199 --> 00:05:57.920
One is the uh fiscal consolidation, and we did it not only that, uh it was the year 2025 of the year in the history that reported the highest, the the uh highest in a way, like uh not the highest, but that the um no year has surpassed the estimated government revenue.
00:05:58.000 --> 00:06:00.720
So that's the year we surpassed uh by 10%.
00:06:01.519 --> 00:06:08.800
So that's a great achievement that uh gave us a big uh uh uh breathing space.
00:06:09.360 --> 00:06:20.560
As a result, we were able to build huge cash buffer, that is how we quickly react to uh this uh to the uh disaster.
00:06:20.800 --> 00:06:26.879
The other area is um the external uh buffer, external sector.
00:06:27.279 --> 00:06:48.959
It was gradually being ruined, but uh we were able to within a year uh to bring it up to a level not by like restricting the economy, like you can build your reserves without importing, but we opened up importation, vehicle importation, debt repayments, you know, all those things.
00:06:49.279 --> 00:06:55.439
And on the other hand, we expanded uh revenue generations part as a result.
00:06:56.160 --> 00:07:00.720
We strongly believe that um we are on a comfortable seat.
00:07:00.959 --> 00:07:12.639
The challenge now is to achieve the medium-term um the growth, sustainable and inclusive growth, um more than seven percent.
00:07:12.800 --> 00:07:18.000
It's challenging, but key driver is nothing but trade and investment.
00:07:18.079 --> 00:07:25.600
So where you guys can be a part of this journey, and um, there are lots of opportunities available.
00:07:25.759 --> 00:07:43.040
Um, strategic priorities are there in the energy sector, we can discuss rated, and the tourism has also been identified as another important area, and um the value-bedded industries, especially mineral-based, even though we are not that frequent within week.
00:07:43.279 --> 00:07:56.480
So there are certain opportunities that we are uh the uh the elements are there, then we focus on these value-added industries and logistics, another uh the area we can think of.
00:07:56.959 --> 00:08:05.360
Um uh prioritize from some other opportunities you may suggest during our discussions.
00:08:05.680 --> 00:08:11.759
Um the other side is investing environment.
00:08:12.240 --> 00:08:13.199
What do you want?
00:08:14.240 --> 00:08:22.639
Um it's a fact that everyone likes to have a conducive environment, a level playing field.
00:08:23.439 --> 00:08:32.879
When investors deal with governments and investors engage in different projects, it can happen in different ways.
00:08:33.200 --> 00:08:39.519
When you have so much connection with the government, maybe favorism, so that's also one will.
00:08:40.240 --> 00:08:49.840
So our policy is to not to favor selected and to discriminate any investors but to create a level-paying fee.
00:08:50.320 --> 00:08:58.480
To that, um the perspective already the digital economy is on its uh agenda.
00:08:59.039 --> 00:09:09.600
Uh, we try hard to um integrate all these sort of platforms and um agencies together to facilitate investors.
00:09:10.320 --> 00:09:14.000
And two main uh investor facilitation projects are going on.
00:09:14.240 --> 00:09:17.120
Hope that we will be able to launch in this year.
00:09:17.279 --> 00:09:27.919
One is a single window to facilitate for uh the foreign investment, the other one is the national uh trade single window to facilitate exporters.
00:09:28.000 --> 00:09:33.440
So um we hope that that would be launched in 2026.
00:09:34.000 --> 00:09:39.200
And in this year, we will enact uh Investor Protection Act.
00:09:39.360 --> 00:09:45.200
Uh, some changes and amendments have been already uh put into the legal framework.
00:09:45.360 --> 00:10:03.600
New amendments will also mainly investor protection is needed, and the relationship between investors and other stakeholders should be on three uh kind of uh democratic platforms, and um taxation is another area.
00:10:03.919 --> 00:10:11.039
Hurrung other tax structure is complicated by the time we uh took the government.
00:10:11.360 --> 00:10:18.480
We made some changes during the year, but in the future also we would do such changes in line with the basic principles of taxation.
00:10:18.639 --> 00:10:20.879
We are taxation convenient and simple.
00:10:21.360 --> 00:10:28.559
We comply with government principles, and we do not have an idea of just make changes, adopt changes from time to time.
00:10:28.720 --> 00:10:37.120
Then investors can easily plan um their businesses, cash flows, and reduce the risks and the volatility.
00:10:37.200 --> 00:10:44.879
So, this is how we have those of the investor uh the environment and the facilitation.
00:10:45.679 --> 00:10:52.000
Uh, with that, uh conclude, leaving uh you to raise some more questions and things.
00:10:52.159 --> 00:11:03.759
And one thing on behalf of uh Prime Minister and the government, I can say we own the government, we came into politics with a genuine reason.
00:11:04.240 --> 00:11:12.240
That is uh none other than to transform Sri Lankan society to a better place.
00:11:13.039 --> 00:11:23.679
So we uphold that the mandate and will never conflict our personal interest in the public interest.
00:11:23.840 --> 00:11:27.039
We hope that we have been doing this thing in the future.
00:11:27.120 --> 00:11:29.120
Also, we are capable of doing this thing.
00:11:29.360 --> 00:11:32.879
So your support, your contributions are right, important.
00:11:33.519 --> 00:11:40.879
Um in the future, we will contribute together and um bring the benefits of this chance prosperity.
00:11:41.039 --> 00:11:42.080
Thank you so much.
00:11:46.480 --> 00:11:47.679
Thank you so much.
00:11:47.840 --> 00:11:57.919
It's really refreshing to hear you both, and I can only encourage you to um do this more often, to tell the world how you change.
00:11:58.159 --> 00:12:05.440
And I hope this venue here in Davos has encouraged you as well to do that so that you are heard in the world.
00:12:05.679 --> 00:12:14.559
We are insiders for Sri Lanka, but you admire your country and have been there for over 20 years, but the rest of the world doesn't.
00:12:14.720 --> 00:12:23.919
So I think um we can maybe uh take a little bit from the man who spoke yesterday, the big marketer.
00:12:24.080 --> 00:12:34.080
Um doesn't have to be that extreme, but I think you are a wonderful country and um you do good and you have to talk about it.
00:12:34.159 --> 00:12:37.200
So I can only encourage you to continue to do that.
00:12:38.320 --> 00:12:47.440
Um with this, I would like to maybe break the eyes with the first question and then leave it to the podium, uh and to you as well.
00:12:47.840 --> 00:13:14.399
Um I cannot resist as an economist and asset manager to um get what's happening in Sri Lanka in contact with the stock market, uh, which has been thriving in the last few years, and um, you know, sometimes uh is is known as a precursor for the actual economic development in about six to eighteen months.
00:13:14.639 --> 00:13:20.320
And Sri Lanka's indices last year rallied over 26%, previous years were were good.
00:13:20.960 --> 00:13:25.360
So they anticipate an economic recovery in the months to come.
00:13:25.679 --> 00:13:31.120
Inflation is down at 2.1%, unemployment rate at 4.3.
00:13:31.679 --> 00:13:38.399
Do you view this already as a sign in the real economy that the market is right?
00:13:40.000 --> 00:13:40.320
Okay.
00:13:42.879 --> 00:13:43.120
Yeah.
00:13:43.600 --> 00:14:17.759
So coming to um the investment and stock market and the real economy, um as far as the uh the the economy performance uh the indicators um that show um that um the right stabilizer stabilization is there, but uh much more is required to um attract and promote investments.
00:14:18.080 --> 00:14:27.120
The one the place is the capital market to form the required uh the capital for real investments.
00:14:27.360 --> 00:14:40.879
To some extent, we know that um the stock markets, financial markets is a place to have a kind of return, and um it shouldn't be a gambling place.
00:14:41.039 --> 00:14:51.360
So in the past, uh there were lots of uh allegations about the stock market, um uh about the insider dealing and all.
00:14:51.519 --> 00:15:11.759
Now we have been able to uh stabilize it, and again the regulator's task is independently independently done, and um that is the reason why we gradually the return in a way like uh exceptional return could be due to a reason in the past uh the market was really, really down.
00:15:12.000 --> 00:15:25.440
Now it is really picking up, and now the the regulator doesn't leave a single room for manipulation, so a couple of weeks' time you may have noticed um one IPO, uh the Wealth Trust IPO.
00:15:26.159 --> 00:15:29.200
Um what happened?
00:15:29.279 --> 00:15:34.320
The the uh initial the price was just seven rupees.
00:15:34.960 --> 00:15:40.000
But on the same day, so it went up to 25,000.
00:15:40.639 --> 00:15:46.080
Uh so whether it is a manipulation or respect, you must have already noticed.
00:15:46.320 --> 00:15:51.200
But the one thing is that market was already almost about to just break.
00:15:51.759 --> 00:16:03.360
Uh unfortunately, there was no circuit breakup for the IPOs, but the regulator intervened correctly and purge all the transactions we are investigating as of now.
00:16:03.600 --> 00:16:08.240
That's been revealed that uh it's not a deliberate fund, but we are looking at that.
00:16:08.399 --> 00:16:18.879
So the capital market would be uh place for us for you to invest uh uh reliably, even for trading, based on information.
00:16:18.960 --> 00:16:25.440
What matters is the information, but not the uh speculation or intuitive uh the practices.
00:16:25.519 --> 00:16:31.279
So we will do all these required things from the government side, and again for future investment as well.
00:16:31.679 --> 00:16:44.000
And government has an idea of uh floating the some of the state-owned enterprises within downside lap of gold income and in the future, maybe in um uh different uh SOAs are there.
00:16:44.320 --> 00:16:51.679
So this is the plan for stock market and uh the government uh what is called uh state-owned enterprises.
00:16:52.720 --> 00:16:53.919
Um yes.
00:16:54.240 --> 00:16:58.720
Thank you for um these um clear answers.
00:16:58.960 --> 00:17:12.319
Um I hope there will also be some privatizations going on to uh make sure that yeah, in a way, like uh the word privatization is also promptly interpreted in Sri Lanka.
00:17:12.640 --> 00:17:20.400
The privatization when the ordinary person in Sri Lanka here the privatization is involved, the cheap selling of assets.
00:17:21.920 --> 00:17:32.720
Um we in a way we do not like to hold the word as privatization, we prefer to have the restructuring of reforms in state-owned enterprises.
00:17:32.880 --> 00:17:34.079
There are many avenues.
00:17:34.480 --> 00:17:44.559
Now legal reforms will be there for public-private partnerships, joint ventures, and strategic business activities likewise.
00:17:45.039 --> 00:17:50.559
Um because when we say the privatization, lots of resistance is there.
00:17:50.880 --> 00:17:55.200
What we prefer is to have these joint collaborations and a partner.
00:17:56.640 --> 00:17:59.599
I think the opportunities are open.
00:18:01.039 --> 00:18:01.599
Very good.
00:18:02.160 --> 00:18:03.039
Thank you.
00:18:03.519 --> 00:18:08.160
Maybe we have some first questions from the audience.
00:18:14.640 --> 00:18:21.519
Yeah, uh, first of all, excellency, thank you very much for having us this morning here for lovely breakfast.
00:18:21.599 --> 00:18:28.160
Actually, I'm Swiss, I've never been to the host because I was always scared of the trafficker as well, you know, but I made it.
00:18:28.319 --> 00:18:32.880
Um, so I have different hats on, you know, I'm working for impact investment solutions.
00:18:33.119 --> 00:18:41.039
We have our own foundations, and also here these two nice gentlemen from the International Spiritual Council for Transforming Humanity.
00:18:41.279 --> 00:18:48.799
Um, my basic question is education is very important in an emerging market and growing market like yours.
00:18:48.960 --> 00:18:56.000
And I heard from some people, also from your system, that you place particular emphasis on education.
00:18:56.160 --> 00:18:57.920
Can you elaborate a little bit on that?
00:18:58.079 --> 00:19:04.559
What the primary goals are in over the next couple of years.
00:19:05.599 --> 00:19:06.640
Right, thank you for that.
00:19:06.720 --> 00:19:10.640
This is my hobby also stop me if I talk too much.
00:19:12.720 --> 00:19:16.799
Sri Lanka has a history of a really strong education system.
00:19:17.440 --> 00:19:31.440
We invested in education very early on from the 1930s, and we have a public fund, publicly funded education system from grade one, starting at grade one, right after your university level, it's free.
00:19:32.240 --> 00:19:56.960
So as a result, we uh very early on, by about the 1950s, we were able to uh really increase our literacy, increase access to education, enrollment at the primary level is almost 97% of the 97-98%, and it's equal for girls and boys, which is very unusual in uh South Asia as you well know.
00:19:57.759 --> 00:20:00.880
Uh and we have a we have good human capital.
00:20:01.039 --> 00:20:02.400
This is our greatest trend.
00:20:02.880 --> 00:20:14.880
We produced uh very uh you know sound professionals that don't only serve Sri Lanka but serve uh many parts of serving many parts of the world.
00:20:15.119 --> 00:20:24.640
However, uh what has happened over the years is that there's a growing inequality in the quality of education.
00:20:25.200 --> 00:20:44.160
So not everybody is able to access a high-quality education, and increasingly the quality of the education you're able to access is uh dependent on your uh sort of family background, uh, economic status, all of these things.
00:20:45.599 --> 00:20:56.720
Also, uh there is a mismatch between the skills that are required today and the skills that are being taught within our education system.
00:20:56.880 --> 00:21:03.839
Our education system is once again yet another legacy of uh colonial uh rulers.
00:21:04.000 --> 00:21:10.799
We have to follow the British model of education and it's very uh exam-oriented.
00:21:10.960 --> 00:21:20.799
So increasingly within the schools, the education system caters to teaching to pass exams, and that's the main focus.
00:21:21.039 --> 00:21:22.559
So we want to change this.
00:21:22.720 --> 00:21:25.599
This is these are the main things that we want to address.
00:21:26.160 --> 00:21:49.359
We want to be able to use the resources that we are investing in education meaningfully, so that the quality we focus on the quality of education, which means investment then also in the human resources within education, which is teachers, so making sure they get good salaries, good training, that their professional development is continuous.
00:21:49.599 --> 00:21:51.119
This is one aspect.
00:21:51.519 --> 00:21:59.680
Uh, infrastructure development, so that uh across the board, uh schools generally have at least all schools have at least the 50.
00:22:00.160 --> 00:22:25.599
Minimum level of necessary infrastructure, including digital infrastructure, and a change in the curriculum and the education model where we want to introduce a vocational pathway fairly early on and allow for students, similar to what is happening here, allow for students to be able to choose either a vocational pathway or a traditional academic pathway.
00:22:25.759 --> 00:22:33.839
But both pathways could also lead to higher education and degrees and diplomas or what have you after 13 years of education.
00:22:34.079 --> 00:22:44.480
Currently, our vocation, we have a TVEC sector, but it doesn't have the same social value as the more traditional academic pathway.
00:22:45.279 --> 00:22:54.799
Primarily also because the vocational pathway is seen as the pathway that's open for students who don't make it to the academic pathway.
00:22:55.200 --> 00:23:02.400
So there's always a kind of a lower recognition given to students who are choose Tibet.
00:23:02.799 --> 00:23:07.119
So we this is the main, this is also one of the main changes we want to make.
00:23:09.039 --> 00:23:17.920
Plus, we, you know, I mean, all devos sort of was all about reskilling new jobs, the uncertainty with jobs.
00:23:18.240 --> 00:23:20.559
There's a lot of discussion around this.
00:23:21.279 --> 00:23:38.559
Countries such as ours are very cognizant of the complications of the new job offer, AI, all of this, and in fact it will have all the kinds of skills that we uh need to uh need to give us our population.
00:23:39.359 --> 00:23:46.480
But what we think is that I don't think we can ever sort of you know keep up with how rapidly things are changing.
00:23:46.720 --> 00:24:00.240
Uh but that are uh what we really want to focus on is skill or increasing the capacity of our young people, particularly, to be able to learn, lifelong learning.
00:24:00.319 --> 00:24:06.400
So that they work, they may come back for education, but they're able to pursue different paths.
00:24:06.480 --> 00:24:14.720
And there's more flexibility or not sort of fixed in one particular niche, uh, and that you're able to adapt to changing circumstances.
00:24:14.960 --> 00:24:17.839
So these are kind of some of the changes that we are trying to bring in.
00:24:17.920 --> 00:24:23.920
We are we started last year, the new curriculum for grade one is being implemented this year.
00:24:24.000 --> 00:24:40.000
We'll start on the 29th of January, and from next year we are introducing new curricula, but also this uh infrastructure and human resource development, which is about equalizing the uh the opportunities that are currently available.
00:24:40.160 --> 00:24:42.720
So this is in a in a nutshell what we are trying to do.
00:24:44.160 --> 00:24:44.559
Thank you.
00:24:46.640 --> 00:24:48.880
Julian Schwenko from R Systems.
00:24:49.279 --> 00:24:56.480
First, I'd like to thank again for the uh we had the pleasure to to host you on Tuesday.
00:24:56.720 --> 00:25:04.799
And uh I was overwhelmed uh about the reactions I got internally from uh old friends from Sri Lanka.
00:25:04.880 --> 00:25:20.559
Uh they chatted to me a lot and uh you asked me um for uh anything that uh that uh I may may give you as a hint uh to to make the uh uh our opportunities even better in Sri Lanka.
00:25:20.720 --> 00:25:23.759
And I got some hints from from my top colleagues.
00:25:24.720 --> 00:25:29.680
Um so they were asking about um uh two specific things.
00:25:29.839 --> 00:25:32.799
Um one is uh tax situation.
00:25:32.880 --> 00:25:44.559
Uh we uh during crisis we lost a lot of high potentials uh uh to other countries, so they uh they went away and uh cycling is did not completely solve.
00:25:45.200 --> 00:26:18.000
And uh one reason that they uh they they see is tax situation for them, so private tax situation and um at a lot of uh private tax in the sense uh individual income tax exactly 36 percent progressive tax okay exactly and uh this uh gives us a half time uh in our plans to uh to establish an engineering and IT hub with high-skilled engineers and uh uh high-skilled office workers.
00:26:18.160 --> 00:26:37.359
So that's one thing, and uh uh in addition to that, uh they were asking about this uh uh uh CP hub uh idea if this will come true because they see a huge potential that uh to to reach out out and so thank you thank you very much.
00:26:37.519 --> 00:26:58.960
Uh uh we will just take that into account and uh do that right, especially when it comes to the policy, apart from the um secondary um uh businesses, there are opportunities mainly in the uh financial sector as well for offshow banking and financing.
00:26:59.519 --> 00:27:06.880
Um the taxation uh as it is told you some complexities are here.
00:27:07.039 --> 00:27:26.480
We will look into this one because uh the current progress is rates starting from uh zero to 36, 36 reaches within uh 36 uh um reaches within the the short limit is 350,000.
00:27:26.640 --> 00:27:41.279
So we will do that, and the uh yeah, other thing is um now it is a fact that within the global scenario, now taxes not a problem because everyone has to pay tax.
00:27:41.839 --> 00:28:00.160
How it should be paid and whether it shouldn't be uh complicated or not, because now uh OECD uh the global tax framework is in operating and we are ready to expand the uh double tax, the treaties and agreements and the connection and integration.
00:28:00.319 --> 00:28:05.200
So we are by to provide the most benefits and transition for the investors.
00:28:05.839 --> 00:28:13.359
So we'll take them into account, and if possible, we will have more discussions uh to see how best we can fix it.
00:28:13.599 --> 00:28:13.920
Thank you.
00:28:14.160 --> 00:28:18.559
So in product account to say thousands of uh proceed keys and effects.
00:28:18.880 --> 00:28:20.160
Oh, yeah, yeah, we have this.
00:28:21.440 --> 00:28:23.680
Sure, thank you.
00:28:24.960 --> 00:28:26.400
So thank you so much.
00:28:26.640 --> 00:28:36.480
Uh here is we are happy to see here is because we are also motherland of Sri Lanka, yeah, more than 35 ACPS in Switzerland.
00:28:37.119 --> 00:28:42.400
My question is how we are investing the logistics provide today in this country.
00:28:42.480 --> 00:28:46.400
Is a we won't like to invest in the logistic sector.
00:28:46.880 --> 00:28:51.920
Is uh that the more information I will I would know that.
00:28:52.400 --> 00:28:52.720
Yeah.
00:28:53.279 --> 00:28:57.920
As of now, there are actually four channels, main four channels.
00:28:58.079 --> 00:29:00.480
One is um the BUI.
00:29:01.039 --> 00:29:10.079
Um so we are the particular information is uh given in addition, the the Ministry of Uh Force and Authority.
00:29:10.240 --> 00:29:13.519
So from time to time go through EOIs as well.
00:29:13.839 --> 00:29:32.559
But the general opportunities are displayed the website of C BUI, and the other one is Kalamboard City, so another channel, and um generally, like so that it has to go through uh this secondary or the primary the developers.
00:29:32.960 --> 00:29:42.319
Um now as far as the Columbo like logistics uh is concerned, Columbo the board is concerned.
00:29:42.559 --> 00:29:59.279
Now we have several um the terminals, those terminals um are operated through the private sector investments, and um we have um one with the pure owned by the government.
00:29:59.599 --> 00:30:09.920
We are exploring the possibilities of uh joining hands with uh the private investors to have public-private partnerships or join ventures, so in the future.
00:30:10.240 --> 00:30:18.079
Um the other one is DOI, or city, and public-private partnerships and join ventures.
00:30:18.319 --> 00:30:27.519
Apart from that, there is another channel what we call Strategic Um Development Act, Strategic Investment and Development Act.
00:30:27.759 --> 00:30:39.599
Accordingly, we can um take such investment through the fast track if that can be considered as a strategically important investment for stream.
00:30:39.920 --> 00:30:51.920
I think logistic uh operation would be such a strategically important because of the location and the opportunities that we have, uh the uh those factors are concerned.
00:30:52.240 --> 00:30:55.839
So it's a yeah, even like uh yeah, Makdala Airport.
00:30:56.000 --> 00:30:58.400
Um, don't know whether you have heard about this.
00:30:58.559 --> 00:31:02.880
In Hamban Totes, there is a second uh international airport called Matar.
00:31:03.119 --> 00:31:04.480
It's not operating well.
00:31:04.640 --> 00:31:18.000
Now uh the government has decided to hold for um uh interest from investors uh to come up with new proposals to operate it in a better way.
00:31:18.880 --> 00:31:22.319
Maybe within reports room, yeah, the call will come.
00:31:23.039 --> 00:31:23.759
Thank you.
00:31:24.240 --> 00:31:25.680
Next question, gentlemen.
00:31:26.480 --> 00:31:28.400
No, he has first.
00:31:31.279 --> 00:31:35.119
So honourable prime minister, thank you so much for coming.
00:31:35.759 --> 00:31:42.880
I'm blessed to be a grandson of the first professor of IJ in Sri Lanka, Professor Cecil Silva.
00:31:43.440 --> 00:31:49.519
So it's my grandfather, and your aunt is staying in the La Serena, where my parents stay.
00:31:49.599 --> 00:31:54.400
So it's a small butt and Roman is a causal fine, very well known to you.
00:31:54.720 --> 00:31:57.839
Um Sri Lanka is very dear to my heart, to be honest.
00:31:57.920 --> 00:32:00.240
I'm of Sri Lanka, although I don't look like that.
00:32:00.480 --> 00:32:01.279
Apologize for that.
00:32:01.359 --> 00:32:02.480
I'm very here with Mr.
00:32:02.720 --> 00:32:04.319
Power, who is the founder of it.
00:32:04.640 --> 00:32:18.240
We want to support and engage in Sri Lanka in the health sector, like we have done that across Europe, across India, and it's something which is very important from our point of view to health is well-being.
00:32:18.400 --> 00:32:22.000
You know, to, and I think that's a huge asset in Sri Lanka for that.
00:32:22.240 --> 00:32:26.400
Second part, as you rightly say, is to educate children on the values.
00:32:26.559 --> 00:32:30.960
We have done that very successfully in India and would like to also propose that.
00:32:31.119 --> 00:32:40.240
And the third part is when I look at tourism in Sri Lanka, as a child, and I'm now 62 years, so I have many trips to Sri Lanka, more even than March.
00:32:40.559 --> 00:32:43.519
And for me, it was always a taste of paradise.
00:32:43.759 --> 00:32:50.799
Now, if I look at the tourism today in Sri Lanka, it is somehow also painful, although the numbers are very good.
00:32:51.039 --> 00:32:55.039
But I believe we can do something in terms of quality of the people.
00:32:55.359 --> 00:33:00.559
Like the German-speaking part of Europe, there's one million people who are interested in Iowa.
00:33:01.759 --> 00:33:04.480
I know I'm friendly to the Jet Will's owners.
00:33:04.559 --> 00:33:09.200
So, like that, you know, there are so much synergies, which I would like to get your guidance.
00:33:09.359 --> 00:33:18.400
Whom should I talk, or whom should we talk to who make this movement, which my grandfather started with the Family Granding Association 60 years back?
00:33:18.640 --> 00:33:22.079
How can we get ahead or work together with you?
00:33:23.039 --> 00:33:24.079
Thank you for that.
00:33:24.319 --> 00:33:33.039
You're right about the tourism industry in that we are also trying to shift from a focus on numbers to quality.
00:33:36.079 --> 00:33:42.799
One of the areas in the tourism sector that we think has huge potential is what you mentioned, the well-being industry.
00:33:43.119 --> 00:33:56.480
Uh, there is already jet wing is one, but there are also more uh independent uh initiatives that really uh target the well-being hospitality sector.
00:33:57.119 --> 00:34:12.559
And there's clearly a lot of potential for that, for help and well-being with our local IOB practices, but also uh, you know, other sort of spiritual, more spiritually inclined uh uh packages as well.
00:34:13.599 --> 00:34:21.280
Um the other thing that we are doing with the within the tourism industry is also to diversify the locations.
00:34:22.159 --> 00:34:34.400
Uh there are so many uh relatively unknown locations and sites in Sri Lanka that can easily be more uh tourist-friendly.
00:34:34.639 --> 00:34:42.800
Uh, and this will reduce the stress on some of the better known locations, which we also need to protect for years on.
00:34:42.880 --> 00:34:51.039
I mean, everybody knows CGI, but C Gilia also needs to be archaeologically managed and preserved.
00:34:51.199 --> 00:35:12.960
So we can't, uh you know, so what we're trying to do is we are uh we are trying to uh uh what's what I'm looking for to rehabilitate and make more popular houses of other such locations uh so that we reduce the stress on particular uh sites that we are currently experiencing.
00:35:13.280 --> 00:35:18.079
Um we would also like higher end tourism uh rather.
00:35:18.800 --> 00:35:33.920
We don't want to sound elitist and say we don't want black hackers, but that's uh we would we we are we are trying to focus on on the on the quality and the spending and the revenue rather than simply numbers.
00:35:34.239 --> 00:35:40.239
But in the initial stages, numbers were also important because we had dropped so significantly.
00:35:43.199 --> 00:35:50.559
This gave people the the confidence that this is an area that you can invest in, this is an area that you is attractive.
00:35:50.880 --> 00:35:57.760
Uh so yes, there's potential for uh collaboration in the health and well-being sector.
00:35:58.000 --> 00:36:05.599
I would say it's the tourism development authority that you need to contact and uh initiate discussions with.
00:36:06.639 --> 00:36:16.719
In addition, like um yes, tourism authority can be contacted, but if a particular proposal is there, yeah, so we have a separate now uh economic management committee.
00:36:16.800 --> 00:36:17.039
Yeah.
00:36:17.199 --> 00:36:19.840
Um by and large, in general, we look into that.
00:36:19.920 --> 00:36:22.960
So you can send that proposal to the finance ministry as well.
00:36:23.199 --> 00:36:23.519
Okay.
00:36:23.760 --> 00:36:24.000
Yeah.
00:36:24.239 --> 00:36:30.559
Because the the one thing which we are also looking into is to build a peace village in Sri Lanka.
00:36:30.880 --> 00:36:35.360
You know, like I have been in '83, in June 83, I have been in Gaul.
00:36:35.440 --> 00:36:38.239
And I mean, I don't need to tell you what this was there.
00:36:38.480 --> 00:36:41.199
I was an 18-year-old young boy at that time.
00:36:41.599 --> 00:36:47.119
And a peace village will limelite to the world, to the global world.
00:36:47.280 --> 00:37:01.119
A difference of uh resolving conflicts, they're almost conflicts, but I feel like what I can also uh uh uh with the previous speaker, uh we've I feel that you are general people and you want to change that.
00:37:01.199 --> 00:37:02.719
So that's how we could support.
00:37:03.679 --> 00:37:06.000
Thank you for the um matter of time.
00:37:06.320 --> 00:37:08.559
We have two and a half minutes left.
00:37:08.800 --> 00:37:15.119
So I would like short questions and short answers if that's possible, so that you can answer the airport.
00:37:15.440 --> 00:37:20.559
Shall we shall we take all the questions and then I just forgot to respond to questions?
00:37:21.840 --> 00:37:23.280
So um thank you very much.
00:37:23.360 --> 00:37:25.679
Um my name is Erika Show Klev.
00:37:25.760 --> 00:37:36.719
I'm half Swiss, half Indian, and I wear two hands I'm at the American Express Switzerland, the head of marketing, and also at the University of Singalen at the Indian Competence Center.
00:37:36.880 --> 00:37:47.119
So, given that uh role, I have two questions, and also because I just visited your country, it was one week in A Gauna, and your country says you come back for more, which I'm here now.
00:37:47.519 --> 00:37:59.039
Um the first question: Is your government engaging with the Swiss um government or EFTA to expand economic cooperation and in which areas?
00:37:59.360 --> 00:38:17.360
And secondly, um as an Indian, um as India already has uh with Sri Lanka closest economic partnerships, what are the new opportunities do you see for HI, private investors, including families, looking at long-term presence in Sri Lanka?
00:38:18.320 --> 00:38:19.519
Next slide, Sherman.
00:38:20.480 --> 00:38:21.920
Hello, Peter van Fill.
00:38:22.320 --> 00:38:25.840
I'll talk to both hats, uh especially the education one.
00:38:26.159 --> 00:38:34.320
Uh we were here in Education House uh launching the Teach Vivians Impact Fund to build education, innovation, infrastructure across the world.
00:38:34.480 --> 00:38:42.400
Uh this is one topic that I've been engaged with uh Sri Lanka since 2019, but we haven't found the funding for it.
00:38:42.559 --> 00:38:50.079
Uh the funding has always so now I'm engaging with the World Bank and ADB to see if we can uh make that happen.
00:38:50.320 --> 00:38:53.280
But I would like to continue this conversation at a later point.
00:38:57.360 --> 00:38:57.679
Yeah.
00:38:58.000 --> 00:38:59.039
Very small.
00:38:59.440 --> 00:39:01.360
I am uh Yudesh Mandani.
00:39:01.599 --> 00:39:05.519
I am president for Sustainable Steel Manufacturing Association of India.
00:39:05.679 --> 00:39:07.360
I have my own steel plants.
00:39:07.599 --> 00:39:12.000
So thing is Sri Lanka has a coastal listing and the ports are available.
00:39:12.159 --> 00:39:16.800
So can you think of creating a circular economic park in Sri Lanka?
00:39:16.880 --> 00:39:21.360
And we would be very eager and happy to be a part of that and invest into that.
00:39:21.519 --> 00:39:27.920
Because the European Union has come up with Sivan, which says that the every goods should have a minimum carbon footprint.
00:39:28.400 --> 00:39:32.480
And for that, we need a recycling activity to be done.
00:39:33.039 --> 00:39:34.719
The courts help in doing that.
00:39:34.880 --> 00:39:40.719
So if anyway, if we can think of creating a circular economic path, we would be most interested.
00:39:40.960 --> 00:39:41.840
Thank you.
00:39:43.280 --> 00:39:44.000
Well short.
00:39:48.480 --> 00:39:51.280
I'm an American veteran, uh, term financier.
00:39:51.440 --> 00:39:59.760
So as you ask for investment in uh Sri Lanka, uh, my main question is you know, we've heard about infrastructure, taxes, education.
00:40:00.000 --> 00:40:04.719
What are you doing to bolster or strengthen the Sri Lankan military?
00:40:04.880 --> 00:40:10.159
You know, as you're reforming a lot of these other current topics, that would be uh my question.
00:40:11.440 --> 00:40:13.280
Now one last question.
00:40:19.280 --> 00:40:19.760
Thank you.
00:40:19.920 --> 00:40:21.360
Um I'm Ben Balanci.
00:40:21.599 --> 00:40:28.159
So we have been developing countries uh on the impact of sustainability, and that's something I missed in this conversation.
00:40:28.320 --> 00:40:35.679
How can you have our policies which can support us to come in, set up businesses, invest in it, to develop Sri Lanka?
00:40:35.760 --> 00:40:38.559
I'm I'm I don't know Sri Lanka very well, I've never been there.
00:40:38.719 --> 00:40:42.400
So that was my uh question, and also how can we use the media?
00:40:42.480 --> 00:40:44.079
For example, we have the CNN.
00:40:44.239 --> 00:40:52.159
Can we bring CNN to Sri Lanka to increase the credibility of Sri Lanka on the business and investment world and tourism also?
00:40:52.559 --> 00:40:55.760
So, how much is the policy playing on this topic?
00:40:56.320 --> 00:40:57.039
Okay, thank you.
00:40:57.199 --> 00:41:02.159
Let me quickly take a few questions and then Kariya will answer some of the others.
00:41:02.320 --> 00:41:16.400
Uh, with regard to our how we view India and uh our our strategic location, I think I'll be able to encourage people to see Sri Lanka as an entry point for the Indian market, right?
00:41:17.199 --> 00:41:20.079
And for the Indian investors to also see that.
00:41:20.480 --> 00:41:41.920
Uh, because our our own market is small, but we are strategically located and we are we could be the hub that uh it forms the base on which from which you can enter other markets and we offer, I think, uh uh uh uh that that capacity which are with our human capital and also with our infrastructure and our regulatory environment.
00:41:42.079 --> 00:41:45.199
So that's uh something I think that we can offer.
00:41:45.440 --> 00:41:49.840
Uh they will probably answer the more specific questions.
00:41:50.079 --> 00:42:10.239
In terms of the military, uh we we are in the process of making a military or redefining the role of the military in a way, because uh as we experienced in the cyclone, post-cyclone, also the military was heavily involved in uh relief uh efforts.
00:42:10.400 --> 00:42:18.000
Um and uh we see that as potentially an important part for the military to play uh in the future.
00:42:18.159 --> 00:42:26.719
Uh our military is uh involved in peace, uh uh peacework with the UN, and this is also something that we pursue.
00:42:26.880 --> 00:42:45.119
We want uh uh our military uh to be more technologically uh uh adept, so we are investing in uh ensuring that our military is up to speed with technology because again that's an area of risk as well, right?
00:42:45.360 --> 00:42:57.840
So these are these are the ways we're not looking to enlarge our military, but we are looking to make it more efficient and more skilled, given the changing circumstances and the changing role that the military may have to play.
00:43:00.880 --> 00:43:01.519
Quick answers.
00:43:01.679 --> 00:43:04.400
Um is the opportunities that's already just answered.
00:43:04.719 --> 00:43:09.519
Mainly, um the sale as a have a big market.
00:43:09.920 --> 00:43:15.840
So now we need to think of how uh your investments on the global change.
00:43:15.920 --> 00:43:17.519
So this is four.
00:44:01.519 --> 00:44:07.360
The ammonia of in hydrogen projects or to promote data centers.
00:44:07.440 --> 00:44:11.199
So that has been taken as one of the key priorities in Sri Lanka.
00:44:12.719 --> 00:44:14.400
We explore the MPs.
00:44:14.559 --> 00:44:30.639
And other sports tell you within this building networks, infrastructure, roads, railways, the ports and all, the transportation, the electrification of transportation has also been identified as another key area.
00:44:30.800 --> 00:44:34.880
And no other solution is a circular economy.
00:44:35.039 --> 00:44:38.320
This is very important one, but we know that there are lots of challenges.
00:44:38.480 --> 00:44:46.079
As you said, we uh just think of um how this we can start this particular park pertaining to a particular industry, maybe steel also.
00:44:46.239 --> 00:44:56.159
I think that that would be really um and um the tourism sector, C N N A, but uh Sri Lanka.
00:44:56.719 --> 00:44:59.760
And there are no any barriers that they want to come back to.
00:45:00.159 --> 00:45:00.719
Yeah, of course.
00:45:01.519 --> 00:45:04.800
So there are no any policy um restrictions.
00:45:04.960 --> 00:45:23.039
So we will come and further we facilitate, we'll keep in touch, obviously can facilitate and uh tourism um already like um we explained, we look at tourism as an experience or within this wide array of different uh experiences.
00:45:23.360 --> 00:45:30.400
So if diversity can be experienced in Sri Lanka, uh we would facilitate and uh bring point as well.
00:45:30.960 --> 00:45:32.000
Thank you very much.
00:45:33.280 --> 00:45:35.760
I hope we you know we answer it.
00:45:37.840 --> 00:45:43.039
Do you have encouraging policies for investors coming for the kind of sustainable?
00:45:43.360 --> 00:45:44.239
Sustainable sector.
00:45:44.559 --> 00:45:45.119
Yes, yes.
00:45:45.840 --> 00:45:49.360
Actually, green energy and sustainable.
00:45:49.840 --> 00:46:09.920
Even um we have developed uh a strategic called green financing or strategic framework for 20 uh 2026-2030, within which we look for how what industries are therefore sustainable uh the investment and sustainable financing models as well.
00:46:10.159 --> 00:46:24.800
Maybe the new concepts, you know, like um green bonds and the what matters in the future is not the short-term profits uh the seeking, but rather the long-term sustainability and inclusivity.
00:46:26.320 --> 00:46:34.239
Thank you very much for this lively discussion, and I'm very thrilled to you know to see witness the great interest that you have.
00:46:34.400 --> 00:46:35.920
I'm very surprised also.
00:46:36.320 --> 00:46:44.480
And I thank you all for um uh answering uh these questions thoroughly and hope we can continue this.
00:46:44.639 --> 00:46:52.800
I'm sorry we have to break it now so that uh honorable prime minister uh can take their journey down to Zurich.
00:46:53.119 --> 00:47:03.280
But um sure we will continue the dialogue like this, and uh hopefully also next year we'll be able to include Sri Lanka in the Swiss Asia night.
00:47:03.599 --> 00:47:08.079
Um we were at Indonesia night yesterday.
00:47:08.239 --> 00:47:13.360
It's amazing what they do, and I think we can do a lot also for Sri Lanka next time.
00:47:13.519 --> 00:47:19.119
So thank you very much everyone for coming and hopefully back to Sri Lanka.
00:47:19.679 --> 00:47:20.400
Thank you.
