Western Province Governor Hanif Yusoof has confirmed that he intends stepping down from his gubernatorial role in order to concentrate more fully on his responsibilities as Special Envoy to the President on Foreign Direct Investment (FDI).
In a statement issued Sunday, Yusoof said he had earlier conveyed to President Anura Kumara Dissanayake his desire to relinquish the governorship, citing the growing challenge of balancing the demands of public office, his expanding investment advisory responsibilities linked to attracting foreign capital into Sri Lanka, and family commitments.
Be that as it may, the more politically and economically significant element emerging from the statement may well be the increasingly visible importance now being attached by the administration to investment diplomacy and international investor engagement at a time Sri Lanka remains under intense pressure to generate foreign exchange inflows, rebuild confidence, and stimulate economic growth.
Yusoof indicated that at the request of the President, he would continue as Governor until a successor is identified in order to ensure what he described as a “smooth and orderly transition.”
However, he also confirmed that thereafter he expects to continue serving in his existing voluntary honorary role as Special Envoy to the President for Foreign Direct Investment.
That role, according to Yusoof, involves leveraging international relationships, strategic partnerships and global business networks to help attract investment into Sri Lanka and support the government’s broader economic development agenda.
The development is likely to fuel speculation that the administration may now seek to place greater emphasis on targeted international investment outreach, particularly among diaspora-linked investors, regional capital networks and strategic foreign commercial partnerships.
Critics meanwhile are also likely to question whether Sri Lanka’s long-standing structural and policy inconsistencies continue to undermine investor confidence regardless of outreach efforts, particularly in areas relating to regulatory stability, governance standards, legal certainty, tax consistency and state-sector reform.
Nevertheless, Yusoof’s continuation in a dedicated investment-focused advisory capacity suggests the Presidency sees value in maintaining direct commercial and diplomatic engagement channels outside traditional bureaucratic structures.
“My commitment to serving our nation remains unwavering,” Yusoof said, while expressing appreciation for the confidence placed in him by the President.
NEWSLINE — The Daily by Faraz
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