News
Chinese Ambassador briefs Mahanayakes on signal investments from them as positive message to international investors
Chinese Ambassador Qi Zhenhong called on the Mahanayake Theras of the Asgiriya and Malwatte chapters, in Kandy, on Thursday, and briefed the Theras on the filling stations and the refinery to be established in the country, by Chinese companies.
He told the Mahanayakes that last year the head of Sinopec came to Sri Lanka and offered investments at a time when the FDI to Sri Lanka was at a low point.Soon Sinopec will open 150 gas stations in the country, he said.
“They also plan to refine four million tonnes of crude a day. Between 120 and 140 million dollars will be invested this year on these projects,” he said.
“As Sri Lanka is gradually returning to normalcy, one of the main concerns of the government is attracting international investments. Recently, China Merchants Group signed an agreement with SLPA to jointly build the South Asia Commercial and Logistics Hub, the first major FDI project after Sri Lanka defaulted last year. The total investment of USD 392 million will help promote Colombo Port as an important hub,” he told the media following the meetings with the Mahanayakes.
Zhenhong added that this investment by China Merchants Group will send a strong positive message to international investors.
Approval of the Cabinet of Ministers has been granted at their meeting held on 19.05.2025 in order to introduce amendments to the Inland Revenue Act No. 24 of 2017 including the proposed tax revisions to enhance the tax structure paving way for state financial integrity based on revenue.
Accordingly, the revised draft bill has been prepared by the legal draftsman and clearance of the Attorney General has been received.
Therefore, the Cabinet of Ministers has granted approval for
the resolution furnished by the President in his capacity as the Minister of Finance, Policy Planning and Economic Development to publish the aforementioned draft bill in the government gazette notification and subsequently, forward the same to the Parliament for its concurrence.
The National Mineral Policy was prepared for the first time in the year 1999, and the aforementioned policy has been amended in 2023 to cover matters such as preparing an updated data system related to mineral resources, adding value to the export of minerals, encouraging mineral-related industrialists, extracting mineral resources and managing the environment sustainably, and resolving the issues related to the ownership of the land arising in extracting mineral resources.
The revised National Mineral Policy has been reupdated in line with the manifesto “A Sustainable Resource Utilization – Generation of the Highest Benefit” under the policy statement of the current government” A Thriving Nation – A Beautiful Life.”
Accordingly, the Cabinet of Ministers has approved the resolution presented by the Minister of Industries and
Entrepreneurship to implement the so-formulated “National Mineral Policy—2026.”
The Gampaha High Court has sentenced Twelve (12) individuals to death over the 2022 murder of former Polonnaruwa District Member of Parliament Amarakeerthi Athukorala and his security officer.
Amendment of the Inland Revenue Act No. 24 of 2017
Cabinet nod for “National Mineral Policy” – 2026
Twelve sentenced to death by Gampaha High Court
Ten new buses with facilities for people with special needs
Ghosts of 2016 writ large as England, West Indies meet again
Amendment to the regulations for registration of Subscriber SIM Cards (Subscriber Identity Modules- SIM) and reregistration of subscriber information related to the SIM cards obtained before 02-08-2019
‘Dates have the highest sugar content to fight Coronavirus’
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