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Press briefing of Cabinet Decision taken on 2012-11-28
Proposals to encourage Returnee Migrant Workers to Invest on New Businesses
- it has been observed that there has been an upward trend in foreign exchange earnings from migrant workers which has reached nearly US $5.2 billion (about Rs.692 billion) in 2011. The proposal made by Hon. Dilan Perera, Minister of Foreign Employment Promotion and Welfare, to grant relevant tax exemptions for importation of machinery and equipment for returnee migrant workers to invest on new businesses; and for State Banks to provide special loan schemes for these workers under stipulated conditions, was approved by the Cabinet.