Sri Lankan government has said export development in the country and integrating it with Asian growth story will be the priority for coming year for which access to markets such as India, China, Japan and Korea is being actively pursued. <br/><br/>Unveiling the budget for next year in Parliament this afternoon, Finance Minister Ravi Karunanayke said, the government is highlighting the strategic importance of Sri Lanka as a hub in the realm of global logistics and commercial operations. The Finance Minister said strong emphasis on all policies and programs will be placed on the alleviation of poverty and 2017 has been declared as the year of Poverty Alleviation. <br/> <br/>The minister announced corporate tax exemption for international organizations and businesses who relocate their headquarters in Sri Lanka. He said the government is committed to eliminate existing socio-economic gap between Tamil-dominated North and East with the rest of the country by 2020. <br/><br/>To achieve it, he proposed to grant a 200 percent capital allowance for businesses which make investments in the Northern province and 100 percent capital allowance for businesses which make investments in the Eastern province of over 3 million US dollars.
News On AIR | November 10, 2016 7:36 PM
Export development in country priority of Sri Lankan government