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Tuesday, June 23, 2009 - 9.17 GMT |
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Sri Lanka -
good opportunity for Malaysian Investors |
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Sri
Lanka,
fresh
from its
success
in
eliminating
rebels
in the
north
and east
of the
island,
is
inviting
Malaysian
investors
to join
efforts
to
rebuild
its
war-shattered
zones
that
need at
least
US$4
billion
(RM14
billion)
to US$5
billion
in
initial
development,
said
Investment
Promotion,
Enterprise
Development
and
Media
Minister
Anura
Priyadarshana.
Malaysian
companies
have
vast
experience
in the
telecommunication,
construction
and
agriculture
sectors
in the
country,
they
would be
in a
good
position
to
expand
their
businesses
to the
affected
areas,
he said.
The
Minister
said the
country
was
providing
15
years’
tax
holiday
for
companies
investing
outside
the
western
zones,
especially
in the
north
and east
which
had not
seen
development
in the
past
three
decades
due to
the war
between
the
government
and the
LTTE.
"We have
not
calculated
the full
amount
needed
to
rebuild
the
whole
area,
but at
least
US$4
billion
to US$5
billion
is
needed
for
initial
development.
With the
war
over, we
can go
and
assess
what
needs to
be done
after
three
decades
of
destruction
where
people
were
denied
decent
living
by the
rebels,"
he
further
said.
The
government
would be
establishing
export
promotion
and
special
economy
zones in
Trincomalee
and
Killinochchi,
Minister
Priyadarshana
said.
He said
there is
vast
potential
in the
agriculture,
tourism,
fishery
and
construction
sectors
in the
two
areas,
adding
that
once-abandoned
cement
factories
and
paper
mill
could be
revived
now.
"In
fact,
one
Malaysian
company
has
shown
interest
to build
a hotel
in
Mullattivu,"
reported
The
Malaysian
Insider
quoting
the
minister.
According
to him,
signs of
recovery
are
already
evident
in
Jaffna.
The
government
had also
lifted
restrictions
on
fishing
activities.
He said
investors
are also
invited
to open
foreign
university
campuses
in the
country,
adding
that two
offering
law
studies
have
been
completed.
Sri
Lanka,
the
minister
said,
offers a
big
market
for
investors
as the
country
had
signed
free
trade
agreements
with
India
and
Pakistan.
Japan
has
shown
keen
interest
to help
Sri
Lanka in
rebuilding
the
devastated
areas,
while
investment
missions
are
being
undertaken
in
Italy,
the
United
States,
Canada,
Italy,
Belgium
and
Singapore,
he said.
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