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Monday, February 06, 2012 - 5.21 GMT

Enterprises flourish in Sri Lanka as FDI surge


Sri Lanka's competitive labor costs, highly-ranked political stability in the region with the government's emphasis on efficiency, competitiveness, infrastructure developments, and reduction of state budget deficits further show that the nation's investment appeal. The country's robust performance in difficult times showed that it could actually come out stronger from any international financial crisis. Its strong economic growth and favorable demographics make it a great country for investors, arab news. com website said.

Sri Lanka is one the fast track for economic growth in 2012 while its transparent investment laws aims to foster foreign direct investments. Safety of foreign investment is guaranteed by the Sri Lankan Constitution. Existence of a transparent and sophisticated legal and regulatory framework covering all prerequisite business law enactments and bilateral investment protection agreements with 27 countries and double taxation avoidance agreements with 38 countries are some among the favourable investment regulations, it added.

Reflecting the strength of Sri Lanka's human capital and strong consumer market growth is the nation's 94.2 percent literacy rate population, higher than that expected for a third world country and one of the highest literacy rates in Asia. Extensive investment in public education has produced a workforce that is not only competent but intelligent, trainable and comfortable with high tech production and services.

The Sri Lankan government has launched an ambitious program of physical infrastructure development to completely upgrade the sea, air, road, power and telecom backbone of the country. The Sri Lankan government has declared its intention to develop the country as a leading regional aviation, navigation and trading hub in South Asia. Therefore, the development of maritime and aviation transportation is at the forefront of the government's infrastructure development agenda.

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Last modified: February 06, 2012.

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