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No economic growth without democracy, rule of law: Mangala

17 Sep 2019

Finance Minister Mangala Samaraweera has said that sustainable economic development is impossible without democracy and the rule of law. “Some people with short memories say they want decisive leadership. That is good. Sri Lanka needs decisive leaders. But it certainly cannot realize its economic objectives with leaders who decisively sack the judiciary, decisively murder, decisively undermine the rule of law and cultivate a culture of impunity, decisively ignore procurement procedures for their own benefit, and decisively expropriate private investment,” he said. Samaraweera made these comments addressing the second session of Sri Lanka Economic Summit 2019 which commenced earlier today at the Cinnamon Grand Hotel Colombo. Samaraweera added that the previous regime squandered the great economic opportunity presented by the conclusion of the war. “The previous regime’s naked power-grab - by stabbing the rule of law in the back - was a key reason for the failure of the promised post-war investment boom to materialize. Foreign and domestic businesses decided that their factories and investments would be safer in Ethiopia, Bangladesh or Vietnam,” he said. In his address the minister also advocated foreign policy based on openness and confident engagement. The Sri Lanka Economic Summit 2019, organised by the Ceylon Chamber of Commerce, concludes tomorrow.

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