Former President Ranil Wickremesinghe has attributed Sri Lanka’s economic challenges to the government’s failure to secure the USD 700 million Adani investment. He emphasizes the need for strong foreign partnerships and long-term reforms for economic growth. Concurrently, a survey highlights significant school disengagement among Sri Lankan adolescents, and an environmental initiative at Hambantota International Port seeks to protect coral species. Upcoming talks with Australia aim to bolster bilateral relations.
Former President Ranil Wickremesinghe has criticized the National People’s Power (NPP) government for its inability to secure significant foreign investments, highlighting the stalled USD 700 million Adani project as a critical miss for Sri Lanka’s economic recovery. He emphasized the importance of this investment alongside potential additional projects in Trincomalee that could contribute another USD 400-500 million, expressing concern over the cumulative loss of over a billion dollars.
During his appearance on Ada Derana’s program ‘@Hydepark,’ Wickremesinghe expressed frustration regarding Sri Lanka’s unclear position on foreign investment projects, specifically those under the 2023 Indo-Sri Lanka Vision Document. He noted how his recent interactions with Indian investors were embarrassing due to the lack of clarity on whether these projects were still under consideration, suggesting that delays could impact Sri Lanka’s relations with India and deter future investors.
He warned that India’s investments could pave the way for others, acknowledging India’s potential to become the world’s second-largest economy by 2050. Wickremesinghe stressed the necessity for Sri Lanka to foster international partnerships to enhance its growth trajectory, advocating for a conducive environment for foreign investors.
Acknowledging the country’s current economic stabilization, Wickremesinghe called for long-term reforms to transform Sri Lanka into a trillion-dollar economy, asserting that the nation does not need to remain in poverty and must actively pursue substantial economic advancements. In conclusion, he reiterated that achieving growth is contingent upon significant reforms and investments.
In a related report, it was revealed that 29% of adolescents in Sri Lanka are not attending school. This alarming statistic indicates approximately 3.5 million youth aged 10 to 19 are currently disengaged from formal education, as identified by the Global School-Based Student Health Survey. The findings underscore various health and behavioral concerns among adolescents, including substance abuse and unhealthy eating habits, underlining the urgent need for targeted educational and health policies.
Additionally, the Hambantota International Port has initiated a Coral Reef Protection Project to study and protect coral species thriving due to eco-friendly policies at the port. This research project, in collaboration with the Ocean University of Sri Lanka, aims to assess coral diversity and promote marine conservation efforts. The project aligns with the company’s commitment to sustainability and responsible environmental stewardship.
Lastly, Sri Lanka and Australia will conduct talks on March 25-26 aimed at enhancing bilateral relations, covering areas such as political engagement, economic partnerships, and maritime cooperation. These discussions will serve to strengthen ongoing cooperation while addressing mutual interests between the two nations.
In summary, former President Ranil Wickremesinghe has criticized the current government’s failure to secure vital foreign investments, specifically highlighting the stalling of the Adani project. He asserts that fostering international partnerships and implementing significant reforms are essential for advancing Sri Lanka’s economy. Concurrently, alarming educational disengagement among adolescents suggests an urgent need for health and education policies, while environmental initiatives at the Hambantota International Port reflect growing commitments to sustainability. Future diplomatic discussions with Australia will further seek to enhance bilateral cooperation across various sectors.
Original Source: island.lk
