All facilities available for investment says Basil

All facilities are available in Sri Lanka for investment. Sri Lanka has become one of the most suitable countries for investment, Economic Development Minister Basil Rajapaksa said at the inauguration of the North-Western Province Zonal office of the People's Bank and its Maliyadeva Branch in Kurunegala on Wednesday.

Investment experts have said Sri Lanka and India are countries where investment can be started with low cost in comparison to other countries, Minister Rajapaksa said.

"Sri Lanka is now one of the safest countries. It has political stability. Infrastructure facilities such as water, electricity and highways have been well developed.

"Sri Lankans are well disciplined and the country has a strong labour force. Therefore, Sri Lanka can offer all the facilities and requirements for any type of investment," he said.

"The government has given priority to infrastructure development during the last five years since it is a basic requirement to increase investment in the country. Even during the world economic crisis, we were able to develop highways, ports, airports and telecommunication in Sri Lanka," the Minister said.

"The country's banking industry has come forward to fund the various investments such as tourism.

"Since president Mahinda Rajapaksa has taken step to reduce the interest rate, funding for the private sector from the banking sector has tremendously increased. This is a good trend," he said.

"The banking industry as well as investors should not miss this opportunity. The banking sector has a national responsibility to increase its funding and service to cater to the growing demand for funds.

"An efficient and a strong banking service is a must for the country's future development," the Minister said. Senior Minister S B Nawinna, North Western Province Chief Minister Athula Wijesinghe, Local Government and Provincial Councils Deputy Minister Indika Bandaranayake, Industry and Commerce Deputy Minister Jayarathna Herat and People's Bank Chairman W Karuanjeewa also participated.