Prime Minister Ranil Wickremesinghe yesterday (24) noted that, the country should move forward and attract more investments in order to beget positive economic outcomes.

The Prime Minister made these remarks while attending the opening of the Hyrax Oil SDN BHD Lubricant Blending Plant in Muthurajawela yesterday.

Speaking further, Wickremesinghe highlighted upon the challenges that the country was facing during the past few years.

“Malaysia, Singapore, we were all together. But because of a 35-year war we fell back in development. Singapore and Malaysia moved forward and are now huge economies. and when the war ended we were on par with Vietnam but still we did not move forward. Instead there were large-scale infrastructure projects based on borrowing that resulted in debt”.

“By 2014 this country did not have the ability to borrow or lend loans. Under that circumstance we took over the government. After we came to power we slowly built the economy and even though we have to borrow we now have the capacity to repay those loans. In the last two months, we needed $ 2 billion. Today, that money we are asking from London and New York. Many warned us not to go to markets after the Easter Sunday attacks. But we nonetheless moved forward.”

“International markets still have confidence in Sri Lanka so we have enough funds to refinance debt.” Wickremesinghe added.

Meanwhile speaking at the event Malaysian high commissioner to Sri Lanka Tan Yang Thai noted that “despite the current challenges that the country is facing, Malaysia continues to retain its trust and confidence in Sri Lanka”.

The commissioner however requested the government to ensure that a conducive environment is created for Malaysian investors in this economy, for future benefits for both countries.