Govt will repeal Export and Import Control Act - PM
October 27, 2016 12:32 pm
Prime Minister Ranil Wickremesinghe says that 15,000 acres of land in Hambantota will be allocated for Chinese investors.
The PM said this while delivering a special statement in Parliament today (27), announcing the government’s five-year economic plan.
Wickremesinghe also said that a new act will be introduced to replace the existing Export Import Control Act and that a low tax regime will be introduced to encourage investments.
“A new set of investment incentives based on Capital Allowances and low tax regime will be introduced; the details will be announced in the Budget.”
“We plan to repeal The Export and Import Control Act and bring in new legislation on the lines of Singapore’s Regulation of Imports and Exports Act and Strategic Goods Control Act,” he said.
See Full Speech Below:
Prime Minister's Speech in Parliament - 27th October, 2016 by deranapics on Scribd
