News
Prez asks Opp. to cooperate
By Chaminda Silva
President Ranil Wickremesinghe yesterday (May Day) urged the JVP-led NPP, the SJB and other political parties not to undermine ongoing economic recovery efforts.
UNP leader Wickremesinghe said they were duty-bound to ensure the continuation of the measures taken since July 2022 to restore normalcy in the country.
Addressing the UNP May Day rally at Maligawatte, Colombo, Wickremesinghe warned them of dire consequences unless they supported his efforts.
The President disclosed that he would introduce a law inclusive of the agreements that the government had reached with the IMF. The President asked the Opposition to help him pass the law to continue to safeguard the current stable situation that the country has acquired.
President Wickremesinghe said: “We should modernise the economy of the villages to eliminate poverty. We have already commenced that programme. I will create a strong export-oriented economy and bring forward a proper method of creating a better future for the youth of this country.”
“So I request the SJB and the JVP not to remain in the traditional politics but to join hands to safeguard the economy and to create a better future for the youth of this country”, he added.
“Some people say that I am a dictator,” the President said.
“Today, different parties hold rallies and processions around Colombo city. SLPP is in the Campbell Park, SJB is holding a rally at Chatham Street, [Palani] Digambaram is in Thalawakele, the CWC [Ceylon Workers’ Congress] is holding their rally at Kotagala, JVP is in Jaffna…”
“This is democracy. Everyone can hold rallies, and they can even criticise me. This situation was not prevalent in the country two years ago”, the President said.
“At one point the Opposition Leader was attacked on the Galle Face Green and chased away. Today, we have given him the space at Chatham Street. Isn’t this democracy?” he asked
“I express my gratitude to each and every party that supported me in building up the country to this state again. Members from the SLPP, a group from the SLFP, Douglas Devananda, the CWC and several others joined hands with me”, the President said.
“I invite the other parties, the SJB, the JVP should not oppose this, to reach an agreement with the government to safeguard this situation for the people.”
President Wickremesinghe also recalled the circumstances under which he accepted the challenge after the SJB declined to accept the premiership and the events leading to the Army thwarting a bid to seize control of Parliament.
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China pledges continued support for Sri Lanka’s Sovereignty, Territorial Integrity, and Independence – Chairman of the Standing Committee of the National People’s Congress of China
Zhao Leji, Chairman of the Standing Committee of the National People’s Congress of China, stated that China is committed to supporting Sri Lanka’s sovereignty, territorial integrity, and independence.
This statement was made during a meeting between President Anura Kumar Disanayake and Zhao Leji, which took place earlier today (16) as part of President Disanayake’s four-day official visit to China.
During the meeting, Chairman Zhao warmly welcomed President Disanayake, further emphasizing that working with Sri Lanka in a continuous and cooperative manner is a key expectation of the Chinese National People’s Congress.
Minister of Foreign Affairs, Foreign Employment, and Tourism, Vijitha Herath; Minister of Transport, Highways, Ports, and Civil Aviation, Bimal Rathnayake; Chinese Ambassador to Sri Lanka, Qi Zhenhong; and Sri Lankan Ambassador to China, Majintha Jayasinghe, were also present at the event.
Business
$3.7 billion foreign direct investment secured during President’s first state visit to China
During President Anura Kumara Disanayake’s four-day state visit to China, Sri Lanka marked a significant milestone by securing the largest foreign direct investment to date. This significant achievement was formalized this morning (16) with the signing of an agreement between Sri Lanka’s Ministry of Energy and Sinopec, a leading Chinese international petroleum corporation.
Under this $3.7 billion investment, a state-of-the-art oil refinery with a capacity of 200,000 barrels will be constructed in the Hambantota region. A substantial portion of the refinery’s output is planned for export, further enhancing the nation’s foreign exchange earnings.
This major investment from China is expected to bolster Sri Lanka’s economic growth while uplifting the livelihoods of low-income communities in the Hambantota area. Moreover, the benefits of this project are anticipated to positively impact the overall Sri Lankan population in the near future.
Minister of Foreign Affairs, Labour and Tourism Vijitha Herath, Minister of Transport, Highways, Ports and Civil Aviation Bimal Rathnayake and Director General of Government Information H. S. K. J. Bandara, alongside other dignitaries were present when the agreement was signed.
President Anura Kumara Disanayake extended an invitation to Chinese investors to explore investment opportunities in Sri Lanka, emphasizing the nation’s stable governance and transparent economy.
He made these remarks as the keynote speaker at the “Investment Forum” held today (16), jointly organized by Chinese state and private enterprises.
The forum was a significant event during President Disanayake’s third day of his four-day state visit to China, undertaken at the invitation of Chinese President Xi Jinping.
Prominent Chinese corporations, including China Tianying Inc. (CNTY), China Harbour Engineering Company Ltd., China Communications Construction Company Ltd., China Petrochemical Corporation (SINOPEC Group), Metallurgical Corporation of China Ltd., China Civil Engineering Construction Corporation (CCECC), China Energy International Group Company Ltd., Guangzhou Public Transport Group and Huawei BYD Auto participated in the event.
President Disanayake also engaged in cordial discussions with the leadership of these corporations.
The forum was attended by Sri Lanka’s Minister of Foreign Affairs, Foreign Employment, and Tourism Vijitha Herath, Minister of Transport, Highways, Ports, and Civil Aviation, Bimal Rathnayake, Chinese Ambassador to Sri Lanka Qi Zhenhong, and Sri Lankan Ambassador to China Majintha Jayasinghe, among others.
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China pledges continued support for Sri Lanka’s Sovereignty, Territorial Integrity, and Independence – Chairman of the Standing Committee of the National People’s Congress of China
$3.7 billion foreign direct investment secured during President’s first state visit to China
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