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India Front Line Report
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2020-05-20 ArtNo.46780
◆New Economic Model Mooted: COVID – 19




【Colombo】President Gotabaya Rajapaksa has expressed optimism that the economy adversely affected by the COVID – 19 pandemic could be re-built on a solid basis. The Presidential Task Force in charge of Economic Revival and Poverty Eradication has been entrusted with the responsibility of formulating a new economic model to achieve this objective. President Rajapaksa directed that the Task Force should prepare economic plans with specified targets in different areas. The President expressed these views during a meeting with the members of the newly-appointed Task Force.
 The Apparel and tourism sectors which make a huge contribution to the national economy should be revitalized to suit the changing situations, the President said. He noted that new opportunities are now open to attract tourists from countries where the COVID – 19 virus has subdued. Medical tourism can be promoted by highlighting the capabilities of indigenous medical system. In order to encourage high-spending tourists, visas must be issued to them supplemented by an internationally recognized certificate.
 President also pointed out the possibility of attracting more foreign investors to invest in the Port City and the Industrial Zone in Hambantota. The Ministry Secretaries were entrusted with the responsibility of identifying such opportunities instead of foreign loans.

【News source】

NEW ECONOMIC MODEL MOOTED

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