Former President Ranil Wickremesinghe has raised concerns over Sri Lanka’s failure to advance major foreign investments, warning that delays could severely impact economic recovery. He highlighted the stalled $700 million Adani project as a key setback, alongside additional development plans in Trincomalee that could have attracted another $400–500 million.
Speaking on Ada Derana’s ‘@Hydepark’ programme, Wickremesinghe expressed frustration over Sri Lanka’s uncertain stance on these projects, particularly in relation to commitments under the 2023 Indo-Sri Lanka Vision Document. He noted that Sri Lanka’s indecision has made discussions with Indian counterparts difficult and could harm economic ties between the two nations.
He also cautioned that failing to secure these investments could deter other potential investors, at a time when Sri Lanka needs foreign capital to drive growth. With India projected to become the world’s second-largest economy by 2050, he stressed the importance of strengthening economic partnerships and creating a more attractive investment environment.
While acknowledging that Sri Lanka has reached a point of economic stabilisation, he emphasised that stability alone is not enough. He called for major reforms and long-term strategies to transition from recovery to sustainable economic expansion, urging the country to work towards building a trillion-dollar economy.
