Sri Lanka needs quality investments that create employment with dignity, said Resident Representative, UNDP in Sri Lanka, Azusa Kubota.
“Any investment will bring resources to the country, but we want them to be SDG-aligned to ensure sustainable, inclusive, and green growth for Sri Lanka,” she said.
Kubota was speaking at the launch of the “Sector insights, challenges and opportunities for mobilising private capital towards SDG aligned investment opportunity areas” recently. This was with the participation of the State Minister of Finance, Shehan Semasinghe; the Director Generals of the Sustainable Development Council and BOI; other Government officials and development partner representatives.
“Given that the Sri Lanka SDG Investor Map focuses on SDGs to bring in a strong impact narrative alongside commercial returns, there should be a strong emphasis on sustainability at the core underpinning all investment choices.”
The role of private capital and investment is more important, now more than ever, to support recovery, prevent regression and help re- accelerate towards a sustainable development trajectory for the country.
Highlighting the ambitious plans of the Government on policy reforms, State Minister of Finance Shehan Semasinghe said, “We are committed to creating a favourable investment climate through regulatory reforms, and attract foreign, and local investments, and facilitate investment opportunities that will generate, positive, social, and environmental impacts, to ensure financial returns.”
“We will improve fiscal transparency, public financial management, introduce a stronger anti-corruption legal framework, and our anti-corruption reform will align Sri Lanka’s legal framework with international standards,” he said.
Director General, Sustainable Development Council of Sri Lanka Chamindry Saparamadu said, “The SDG Investor Platform plays a crucial role by providing investors with critical data, insights, and tools necessary to channel increased capital towards the SDGs. By doing so, it will assist Sri Lanka in unlocking vital financing required to overcome economic challenges and ultimately advance the well-being of both our people and the planet.”
Director General, Sri Lanka Board of Investment, Renuka Weerakone said, “It is our intention to explore and accept green funding opportunities to accelerate sustainable development projects in Sri Lanka. We firmly believe that investment and sustainable development are intimately linked, and by embracing this interconnection, we can unlock unprecedented opportunities for growth, innovation, and shared prosperity.”
SDG Impact is a UNDP flagship initiative, working to accelerate private sector contributions towards sustainability and the achievement of the Sustainable Development Goals (SDGs) by 2030.
Source: Sunday Observer
