ID :
125542
Wed, 06/02/2010 - 08:02
Auther :
Shortlink :
https://oananews.org//node/125542
The shortlink copeid
SRI LANKA OFFERS "GOODIES" TO WOO INVESTMENTS
KUALA LUMPUR, June 1 (Bernama) -- Malaysian companies can enjoy 100 per cent
ownership when investing in Sri Lanka besides being allowed to repatriate home
all of their profits excluding taxes as part of incentives to attract
investments to the Indian sub-continent's island-nation.
In outlining some of the incentives, Sri Lanka High Commissioner to
Malaysia D.D. Ranasinghe said potential areas for investment include
infrastructure development such as roads, airports, harbours, power supply,
insurance, telecommunications, sea and air connectivity.
Sri Lanka was fast-tracking these areas to woo increased investments and
accelerate the country's socio-economic development, he told a press
conference.
He said Malaysia has emerged the No. 1 investor in Sri Lanka with
investments in diverse sectors especially in the small-and medium-scale
enterprises.
To further enhance Malaysian investments, he said, the Sri Lankan High
Commission together with the Global Organisation for People of Indian Origin
(GOPIO) would host an investment conference in Colombo to showcase the
business opportunities available in Sri Lanka for Malaysia's private sector.
Ranasinghe said Sri Lanka was focusing on foreign investments to redevelop
its economy, especially after years of civil war, with companies including from
Malaysia now able to do business in a peaceful and politically stable
environment.
"For instance, Malaysia can build more resorts and hotels since we are
lacking in such facilities and take advantage of the huge market and demand in
the education sector by establishing more colleges and universities," he said.
As evidence of increasing foreign investor interest in Sri Lanka, he said,
strong foreign interest in portfolio investments had boosted the Colombo Stock
Exchange which recorded the highest business turnover recently.
As for the three-day conference beginning June 17, Ranasinghe said it would
include an economic conference, a buyer-seller meeting and networking for smart
partners.
The Ministry of Economic Development, Board of Investment Government and
captains of industry of Sri Lanka will participate in the conference.
-- BERNAMA
ownership when investing in Sri Lanka besides being allowed to repatriate home
all of their profits excluding taxes as part of incentives to attract
investments to the Indian sub-continent's island-nation.
In outlining some of the incentives, Sri Lanka High Commissioner to
Malaysia D.D. Ranasinghe said potential areas for investment include
infrastructure development such as roads, airports, harbours, power supply,
insurance, telecommunications, sea and air connectivity.
Sri Lanka was fast-tracking these areas to woo increased investments and
accelerate the country's socio-economic development, he told a press
conference.
He said Malaysia has emerged the No. 1 investor in Sri Lanka with
investments in diverse sectors especially in the small-and medium-scale
enterprises.
To further enhance Malaysian investments, he said, the Sri Lankan High
Commission together with the Global Organisation for People of Indian Origin
(GOPIO) would host an investment conference in Colombo to showcase the
business opportunities available in Sri Lanka for Malaysia's private sector.
Ranasinghe said Sri Lanka was focusing on foreign investments to redevelop
its economy, especially after years of civil war, with companies including from
Malaysia now able to do business in a peaceful and politically stable
environment.
"For instance, Malaysia can build more resorts and hotels since we are
lacking in such facilities and take advantage of the huge market and demand in
the education sector by establishing more colleges and universities," he said.
As evidence of increasing foreign investor interest in Sri Lanka, he said,
strong foreign interest in portfolio investments had boosted the Colombo Stock
Exchange which recorded the highest business turnover recently.
As for the three-day conference beginning June 17, Ranasinghe said it would
include an economic conference, a buyer-seller meeting and networking for smart
partners.
The Ministry of Economic Development, Board of Investment Government and
captains of industry of Sri Lanka will participate in the conference.
-- BERNAMA
