Japan supports Govt. efforts to create 1 million jobs

Japan will support efforts by the Sri Lankan Government to create one million new jobs by increasing investment opportunities, a statement from the Finance Ministry said yesterday. 

Finance Minister Ravi Karunanayake during a meeting with Japanese Ambassador Kenichi Suganuma outlined the Government’s plans to increase job opportunities in the country and strengthen relations between the two nations.

The Ambassador noted Sri Lanka is increasingly catching the attention of other countries as an attractive investment destination. 

“Japan will provide full support to the Government’s plans to create one million new jobs,” he added.  

Both countries have planned an economic policy dialogue in the first half of 2016 that will concentrate on improving Japanese investment in Sri Lanka. 

The proposal was discussed during Prime Minister Ranil Wickremesinghe’s visit to Japan in October and is a reflection of the economic growth seen in Sri Lanka during the last few years. 

Japanese Foreign Direct Investment to Sri Lanka climbed to $37.6 million in 2013 from $19.3million in 2009. Japan has also been the leading donor to Sri Lanka providing Rs. 1,550 billion since 1965 in the form of concessional loans, grants and technical assistance. 

Some of the projects the Japanese Government hopes to cooperate on include the transport system of Colombo, transmission lines and water supply systems in Anuradhapura and continue assistance in conflict affected areas. 

“Japan will continue to support Sri Lanka’s efforts at national reconciliation and peace building. We are offering any assistance needed in establishing the four tier mechanisms for reconciliation planned by the new Government. We also started work on the proposal to hold an international conference to support the reconstruction of conflict affected areas and to discuss about several projects to develop its economy,” Ambassador Suganuma added.