100% ownership to foreign investors

- Minister of Industry and Commerce



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Minister of Industry and Commerce Rishad Bathiudeen (left) in conversation with reps from London’s Global Business Worldwide.


Industries, tourism, and logistics are among Sri Lanka’s priority investment calls-and one hundred percent ownership is guaranteed for the global investor. "We have strong interest towards foreign investors entering manufacturing industries, tourism, and logistics. In that, we are keen to partner in sectors of manufacturing industrial zones, tourism infrastructure, and logistic projects such as ports and warehousing.


‘One hundred percent of participation-ownership- is allowed by the government for the foreign investor on their valuable investments" stressed Minister of Industry and Commerce Rishad Bathiudeen.


Minister Bathiudeen was in conversation with Alvaro Aguillo (Project Director of London’s Global Business Worldwide) and Izabella Kruk (Project Coordinator of London’s Global Business Worldwide) on February 13 in Colombo.


Answering questions posed by Global Business Worldwide reps, Minister Bathiudeen said: "Our government is a stable government with two thirds majority in Parliament despite emerging from three decades of war. The country is now on a correct path. As a result we see expansion in many spheres-tourism, exports and the economy. Among the potential growth sectors are tourism, logistics, knowledge services & BPO, and ICT. In fact we have a $ one billion target in ICT in the next few years. We aim to enhance export oriented manufacturing such as boats, ceramics, tyres and tubes, plastics, construction material and agro sector. We strongly encourage foreign investors entering our industries, tourism, and logistics. We have strong interest towards foreign investors entering manufacturing industries, tourism, and logistics. In that, we are keen to partner in sectors of manufacturing industrial zones, tourism infrastructure, and logistic projects such as ports and warehousing. One hundred percent of participation-ownership- is allowed by the government for the foreign investor on their valuable investments when they enter priority sectors such as tourism development. Foreign investments are given constitutional guarantees of safety and 100% profit repatriation. The 100% ownership allowance does not apply to some designated sectors such as coastal fishing, and retail trade as well as regulated sectors such as mining of minerals, freight-forwarding and shipping. In recent budgets, tax incentives have also been introduced for investing in our small and medium enterprises."


"London’s Global Business Worldwide has a partnership with TIME Warner Group. Representing Global Business Worldwide, we are now in Colombo to produce a country report on Sri Lanka tentatively scheduled for May-June 2014 in TIME Warner’s Fortune magazine"said Project Coordinator Ms Kruk, and added: "Fortune magazine is one of the best-selling business magazines in the world and its many rankings are well known. We are targeting the global edition of Fortune magazine for publication of our report."


- Ministry of Industry and Commerce


 
 
 
 
 
 
 
 
 
 
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