Sri Lanka’s Prime Minister promotes country as an investment destination of choice
Sri Lanka’s Prime Minister Mahinda Rajapaksa has reportedly invited global companies to select Sri Lanka as their investment destination of choice by promising lucrative prospects with the government of Sri Lanka taking steps to further boost its international image.
“Our Government has already started to put a number of measures in place that would make Sri Lanka an attractive country for investors from all around the world. These measures are aimed at ensuring that both local and foreign investors will be able to establish profitable ventures without unnecessary barriers. In this background, we eagerly invite you to select Sri Lanka as your investment destination of choice,” the Prime Minister has been quoted as saying at the Sri Lanka Investment Forum.
Local media reports have stated that with measures taken to expedite the implementation of key economic development projects despite the Covid-19 pandemic, the Prime Minister had said that the country had shown economic resilience by being on a path to achieve over 6% GDP growth rate following a 3.6% contraction last year.
The Prime Minister has reportedly also listed various reforms undertaken by the Sri Lankan government to make the country attractive with sound macroeconomic fundamentals to drive towards a prosperous future.
“The government recognises the importance of foreign direct investments (FDI) as a game-changer in a post-pandemic era. We have introduced a number of tax exemptions in the 2021 Budget, particularly in boat building, bonded warehouses and renewable energy, as well as financial and non-financial incentives. These measures are aimed at ensuring both local and foreign investors are able to establish profitable ventures without unnecessary barriers,” Rajapaksa has added.
OSL take:
Sri Lanka is fast becoming a business hub in the South Asian region given it’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country. The government of Sri Lanka is committed towards further improving Sri Lanka’s position in the ease of doing business index. Also, the ongoing development agenda has expanded business/investment opportunities in Sri Lanka. Sri Lanka’s economy has shown great resilience to external and internal challenges through the years and is once again on the path to recovery after facing the impact of the global Covid 19 pandemic. Foreign businesses/investors could confidently explore opportunities in Sri Lanka.
| Article Code : | VBS/AT/20210611/Z_1 |