‘Australian firms keen on Sri Lanka investments’

COLOMBO: Australian firm are interested in investing in Sri Lanka, particularly in resource sector, but a more conducive investment environment is needed, High Commissioner Paul Stevens said.

Sri Lanka is looking to foreign direct investment as a factor in taking the country out of an economic crises triggered by excessive deployment of ‘macro-economic policy’ involving fiscal and monetary stimulus.

Sri Lanka is also planning to draw up a new foreign investment law as well as speeding up the processes within the Board of Investment.

Sri Lanka has to “continue to work towards a more conducive foreign investment environment” High Commissioner Stevens told a forum in Colombo, where Australia supported training journalists in macro-economics, with the central bank and Sri Lanka Press Institute.