‘More investers eye Sri Lanka’

The attention of tourists, investors and heads of states has been drawn to Sri Lanka to an extent not experienced in the recent past, External Affairs Minister Professor G L Peiris said addressing the 31st National Conference of the Institute of Chartered Accountants of Sri Lanka.

The Minister said the establishment of the sustainable peace and political and stability, attributed to this state of affairs.

The Minister who attended the 31st national conference of the Institute of Chartered Accountants held at Colombo Water’s Edge hall as the Chief guest aired these views. Minister Peiris said it is an important and timely decision to select “World sees opportunities in Sri Lanka” as the theme of the National Conference.

The main reason for this state of affairs is the attention drawn to Sri Lanka by a large number of foreign diplomats in an unprecedented manner in the fields of tourism and investment. G E C Company in America, group of Shangrila hotels, Mahendra and Mahendra Company in India have come forward to make investments in the country.

Pakistan President Asif Ali Zardari and Indian Ministers S M Krishna Ananda Sharma and Kapil Sibal will visit Sri Lanka. A representative of the Chinese President is scheduled to visit Sri Lanka to participate in the ceremony to be held at Hambantota Port prior to the Second Induction of the President. A team of German Parliamentarians will visit the country in the near future.

Participation of the business community is essential for the improvement of the opportunities available in Sri Lanka. The Government has initiated a large number of initiatives for the economic, political and social well-being of the country.

Steps have been taken to minimize the delay occurred in allocating land and to end the prolongation of legal activities. Meanwhile, 70 percent of the longstanding Emergency Regulations have been lifted. Removing all the security checkpoints in Colombo and suburbs recently is an example for that.

The Minister said human resource is one of important aspects in respect of economic development in the country and initiatives have been launched to develop education. He said Higher Education Minister S B Dissanayake hoped to change the university education system to meet the needs of the day.

Attorney General Mohan Peiris said Sri Lanka has become one of the topmost countries in attracting direct foreign investments. Since the end of the civil war the county is fastly moving towards economic rebuilding.

The country has achieved political stability and the investors have been granted a lot of facilities by the Board of Investments.

Local investors should be provided legal security to encourage for large scale investments there exists a legal framework which builds the confidence of the investors. As a result multi-national companies are showing an interest in investing in the country.

The government has entered into bilateral trade agreements with India and Pakistan. Such agreements contribute enormously for the rapid development of the business activities in a free trade environment.