Sri Lankan government taking steps to improve foreign direct investment prospects
The government of Sri Lanka is reportedly taking steps to improve foreign direct investment (FDI) prospects which have become bleak following last month’s Easter Sunday attacks.
The local media quoting economic analysts has stated that the country will have to face many challenges at present even before embarking on the track of its vision 2025 for economic prosperity.
A targeted approach is required to attract foreign investors who would not only bring in capital but also support the country to integrate with global value chains through their established networks; a senior official of the Central Bank of Sri Lanka has been quoted as saying in the local media.
Sri Lanka’s Finance Minister Mangala Samaraweera has recently noted that “investors must understand that the fundamentals of the economy have not substantively changed despite the possible negative short term impact for both FDI and portfolio investment.”
The Minister has appealed to foreign investors “not to put off their upcoming investments in Sri Lanka and reiterated the Sri Lankan government’s commitment to provide fullest support for them to commence their business in the island.”
Sri Lanka attracted FDI amounting to US$ 2.3 billion last year, Development Strategies and International Trade Ministry statistics revealed.
OSL take:
As stated by Sri Lanka’s Finance Minister given the continuation of strong economic fundamentals of the country’s economy, foreign businesses/investors could explore business opportunities in Sri Lanka with confidence. Sri Lanka already has to its benefit many trade agreements, trade concessions and a strong workforce. Sri Lanka’s economy is expected to bounce back fast.
| Article Code : | VBS/AT/15052019/Z_2 |