Sri Lanka to focus on Indian, Chinese and Japanese investments
Sri Lanka’s State Minister for Investment Promotion, Keheliya Rambukwella has reportedly said the country wants to target India, China and Japan for foreign investments with measures being taken to raise investor confidence.
“We will not look at favorites when it comes to international relations, but we are very particular about India and China including Japan,” Rambukwella has been quoted as saying after assuming duties at his office in Colombo.
He has observed that the three countries were important especially in terms of logistics.
Rambukwella has noted that with elections due in a few months, the focus was to build confidence and lay a foundation to draw investors.
“Primarily we should focus on national security, then political stability and infrastructure,” Rambukweella has told EconomyNext.
“Investors should not be sent from pillar to post, BOI should be a one stop shop.”
OSL take:
India, China and Japan are currently the leading foreign lenders to Sri Lanka. The move by the government of Sri Lanka to push for more foreign investments from these countries would be a realistic target since Sri Lanka has strong ties with these countries. Therefore businesses in these countries could explore business opportunities in Sri Lanka. Given Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country have made it an attractive business destination in the South Asian region.
| Article Code : | VBS/AT/04122019/Z_2 |