Economic Development Minister Basil Rajapaksa met with two high level business delegations led by the French Ambassador and the British High Commissioner in Sri Lanka with the aim of promoting Investments from France and the UK.
Addressing the Business community that included business leaders in insurance, apparel sector, tourism, and pharmaceuticals, the Minister requested the entrepreneurs to make use of the twin factors: durable peace and political stability in Sri Lanka that currently attracts much foreign direct investments. He urged them to utilize these opportunities to create a win–win situation.He elaborated on the 8% of economic growth rate maintained by Sri Lanka and the credible performance of the Sri Lanka stock market. Such impressive indicators have upgraded the reputation of Sri Lanka's credit ratings internationally.
French Ambassador Christine Robichon stated that a number of French companies have already established themselves in Sri Lanka. She referred to a high-profile business delegation that visited Sri Lanka on a business exploration mission recently.
Many French companies have expressed their interest in investing in Sri Lank in the fields of construction, energy, tourism, and apparel.
British High Commissioner John Rankin spoke on the historical longstanding partnership between the UK and Sri Lanka. He assured UK's continued support to Sri Lanka to realize economic development targets set by the Government.
These two meetings were the first of a series of discussions the Minister of Economic Development is expected to hold with foreign investors in Sri Lanka in order to further enhance foreign commercial operation in the country while overcoming any issues related to trade and investments.
In response to several questions pertaining to investment facilitation, the Minister reiterated that the Board of Investment in Sri Lanka is being reorganized to become a fully operational 'one-stop shop'. A US$ 400 mn market is available for investors in Sri Lanka, he added.
Noting the benefits for potential investors, he emphasized the major infrastructure drive covering ports, airports, roads, electricity and railway undertaken by the Government with foreign assistance.
He also said that the country maintains a very high degree of transparency in all related procedures. An on–line visa system will be adopted very soon by the immigration authorities to attract more tourists to the country.
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