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* Sri Lanka PM reveals plans to develop Trincomalee Harbor soon
Tue, Oct 24, 2017, 12:36 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 24, Colombo: Sri Lanka's Prime Minister Ranil Wickremesinghe says in addition to the Colombo and Hambantota harbors Trincomalee Harbor will also be developed soon.

Participating in the 45th anniversary celebrations of the Kandy Sinhalese Traders' Association in Kandy yesterday, the Prime Minister said both India and Singapore are willing to extend support to the port development activities and the discussions with the two countries are ongoing.

The Premier pointed out that the Trincomalee harbor is located in a strategic position in the Bay of Bengal and with the development of the Bay of Bengal in the next 10 years development of Trincomalee harbor will have considerable influence in accelerating the country's economy.

The Prime Minister also pointed out that development activities in Colombo and Trincomalee harbors also affect Kandy.

Explaining that the government needs Rs. 3 trillion for the debt payment in 2018 and 2019, the Premier said although there will be loans to pay after that the government will be able to repay those with the revenues. "At the same time we have to borrow more for development," he said.

"Our main objectives are to stabilize the economy, to pay back loans, to manage debt, to spend money on important activities and to provide for 13 years of school education, improving healthcare, etc. The only way to strengthen the economy for all these is to strengthen private investment," the Premier said.

Pointing out that China, India and Singapore have become developed today through private sector development, the Premier said Sri Lanka should follow the same path.

"In addition, we hope to launch a new development bank to help businessmen. All this should be done in a special way. We are in a new economic system. The country needs hotels like Hilton and Marriott. Today most people travel using Uber. How many shops in Kandy will be left in 20 years? That's because the online marketplace is operating," the Premier said that it is necessary to adapt to new technology and trends.

He said the Kandy city is a perfect location to develop information technology and he also hope to develop agricultural technology.

With the completion of Central Expressway exports from Kandy can be transported to Katunayake within an hour, the Premier said. Kurunegala, Kegalle and Kandy should obtains the benefits of the Central Expressway, he added.

The Premier said the government hopes to introduce large development projects for the Kandy city and has also focused attention to develop the tourism industry in the area.


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