Lanka looking at consultancy support from KPMG India

To boost Sri Lanka’s investment appeal, the country is resourcing international level consultancy support. Sri Lanka is looking at consultancy support from KPMG India, among others, to compile a detailed report on the country’s investment regime.

KPMG India’s annual turnover exceeds $ 100 million. Its parent group, KPMG, recorded $ 20.63 billion turnover in 2010 and is an internationally reputed business auditor for large and small companies offering expertise in audit, tax, and advisory. KPMG, with Price Waters House Cooper, Deloitte, and Ernst & Young, make up the ‘big four’ auditing companies in the world.

Minister of Industry and Commerce of Sri Lanka, Rishad Bathiudeen, on January 11 met with Narayan Ramasawamy, Partner, KPMG Consultants in India as a follow-up to the discussions he held in Colombo with a CII-led delegation last December. Minister Bathiudeen is currently attending the “Partnership Summit 2012” in Hyderabad at the invitation of the Indian Minister of Commerce, Industry and Textiles. The January 10 Discussions focused on how to proceed in compiling a comprehensive document that can provide detailed information on Sri Lanka’s investment regime and, at the same time, specific project proposals for the purpose of attracting foreign investors.

The minister suggested the KPMG Consultants to focus at the initial stage on a few thrust industry sectors such as tourism and submit a brief proposal on the subject together with a roadmap with specific timelines. The consultant stated that he would explore the possibility of undertaking an early visit to Sri Lanka in order to meet with senior decision-makers for further discussions.

Minister Bathiudeen also visited the Platinum rated Green Business Centre, owned and managed by the Confederation of Indian Industry (CII). The centre is housed in a green building, which received the prestigious LEED (Leadership in Energy and Environmental Design) Platinum rating in 2003. This was the first Platinum rated green building outside the United States and the third in the world.Minister Bathiudeen met Centre Director, S. Raghupathy and other senior officials during this visit. Raghupathy, who gave a detailed account of the facility, invited the minister to plant a tree to mark the occasion.