SJB MP Eran Wickramaratne Highlights Law Enforcement Challenges as Barrier to Foreign Investment

In a candid address, SJB MP Eran Wickramaratne asserted that the deterrent for foreign investors lies not in the absence of tax incentives but in the inadequate implementation of the country's laws. Pointing to Sri Lanka's rankings of 99th in the international Ease of Doing Business index and 164th in the enforcement of agreements, he underscored the urgent need for a collaborative effort to reconstruct the nation. Wickramaratne emphasized the exclusion of family-based corruption and urged the government to create a conducive environment with effective management.

Addressing the ongoing debate on the Investment Promotion and Technology Ministries, the MP stressed the collective responsibility of the country, Parliament, and the government to foster prosperity. He called on the government to prioritize adherence to rules and regulations, highlighting the crucial role of the rule of law in national development.

Wickramaratne drew attention to procedural irregularities in the Value Added Tax (VAT) Bill debate, expressing concern that MPs were denied reasonable opportunities for discussion. He criticized the government's approach, pointing out that while a majority party can pass bills, it should allow for meaningful debates, particularly when proposed legislation could impact the public adversely. Wickramaratne cited the VAT Bill as an example, expressing reservations about the significant increase in the 2024 revenue estimate, primarily reliant on VAT revenue, without adequate discussion and consideration for its potential effects on the people.

In conclusion, SJB MP Eran Wickramaratne's forthright statements underscore the critical issues hindering foreign investment in Sri Lanka. Beyond mere tax incentives, Wickramaratne emphasizes the pivotal role of proper law enforcement, pointing to the country's challenging rankings in global business indices. Urging a collective effort to build a new nation free from corruption, he calls for a conducive environment provided by the government, stressing the importance of effective management.

As the debate on the Investment Promotion and Technology Ministries unfolds, Wickramaratne reiterates the shared responsibility of the nation, Parliament, and the government in shaping a prosperous future. He underscores the necessity for strict adherence to rules and regulations, highlighting the indispensable role of the rule of law in national development.

The concerns raised by Wickramaratne extend to the parliamentary procedures, particularly evident in the VAT Bill debate, where he criticizes the government's reluctance to allow meaningful discussions. His call for inclusive debates, considering potential harm to the public, emphasizes the need for a balanced and transparent legislative process. Wickramaratne's conclusion serves as a call to action, urging collaboration and adherence to democratic principles for the collective betterment of Sri Lanka.