COLOMBO, Jan. 29 (Xinhua) -- Sri Lankan President Anura Kumara Dissanayake said his government will allocate 1.35 trillion rupees (about 4.6 billion U.S. dollars) for government capital expenditure from the 2025 budget, marking the highest government capital spending in recent times, the President's Media Division (PMD) said in a statement on Wednesday.

Dissanayake made this statement at the Economic Summit 2025 held here on Tuesday night. He said that the government anticipates an economic growth rate exceeding 4 percent in 2025, and that this would require providing the necessary facilities to attract and sustain foreign direct investments.

He said the government is establishing the necessary mechanisms to ensure that the entire capital expenditure allocation is effectively utilized for intended purposes.

He said securing approval to invest in Sri Lanka now requires clearance from 82 different institutions and that obtaining these approvals takes over two and a half years. He promised that this time would be reduced to six months. Enditem

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