Govt. resorting to change law to revive FDI with tax incentives
Daily FT
|October 23, 2025
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa says changes to Mahinda Rajapaksa-era Strategic Development Projects Act to support capital-intensive projects critical for economic recovery
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THE Cabinet of Ministers yesterday approved amendments to the Mahinda Rajapaksa-era Strategic Development Projects Act to enable tax incentives to attract Foreign Direct Investment (FDI) for large-scale projects, thereby circumventing limitations on tax incentives under the International Monetary Fund (IMF) program.
Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said the Attorney General has cleared the draft, which will now be gazetted and tabled in Parliament.
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