Investor Facilitation Center set up in Colombo

By MSV On Jun 18, 2023

This picture taken on November 17, 2019 shows the Liberia-flagged container ship RDO Concord sailing through Egypt's Suez Canal in the canal's central hub city of Ismailia on the 150th anniversary of the canal's inauguration. - One hundred and fifty years after the Suez Canal opened, the international waterway is hugely significant to the economy of modern-day Egypt, which nationalised it in 1956. The canal, dug in the 19th century using "rudimentary tools" and which links the Mediterranean to the Red Sea, was opened to navigation in 1869 and was expanded in 2015 to accommodate larger ships. (Photo by Khaled DESOUKI / AFP) (Photo by KHALED DESOUKI/AFP via Getty Images)

COLOMBO: State Minister for Investment Promotion Dilum Amunugama says that a new Act on investments in Sri Lanka will be introduced by the end of this year in order to replace the existing complicated laws.

He assured that the complicated situations faced by investors in Sri Lanka would be eliminated by the next year.

State Minister Amunugama made these remarks in response to the questions raised by the parliamentarians regarding the complexities in acquiring licenses for investments in Sri Lanka and other matters, during a recent meeting of the Ministerial Consultative Committee on Investment Promotion.

He emphasized that an Investor Facilitation Center has been established at the World Trade Center to provide facilities to investors including solutions for the issues they are facing. The centre will be operated in coordination with all government agencies, he added.

Amunugama pointed out that the investors have been given the opportunity to submit their issues to the heads of related institutions, adding that this center will help investors solve their problems without delay.

This procedure would be in place as a temporary solution until the new laws are implemented, he said.

During the meeting, the parliamentarians have also highlighted the need to submit accurate information on the investments brought into the country, highlighting its essentiality while working with the International Monetary Fund (IMF).

Investment Sri Lanka