Sri Lanka to introduce new laws to protect investments

Sri Lanka’s President Gotabaya Rajapaksa vowed to bring in new laws to protect both local and foreign investors as the government aims to encourage investments to reduce reliance on borrowings.

“Our overreliance on loans must come to an end. That is why the focus of
the Government is on fostering investments. We must attract more Foreign Direct Investment and encourage more local investment to drive our economic growth. With this in view, the Government is bringing in new laws to fully protect investments,” Rajapaksa asserted at the Sri Lanka Economic Summit organized by the Ceylon Chamber of Commerce.

Further, he stressed that the government is committed to enhancing the ease of doing business in Sri Lanka.

The President noted that delays in projects funded by foreign parties including foreign governments in the past have painted a negative picture of the country internationally.

“In this context, I must also note there have been several instances of projects, including some funded by foreign Governments, that have stalled due to various reasons. Such delays are deeply problematic because they inhibit the benefits of these projects from reaching the people. They also create a negative picture of the way the country
operates,” he added.

He stressed that the Government is keen on addressing such problems that discourage investors.

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