Govt. to introduce new laws to resolve investors’ issues

The Sri Lankan government plans to introduce a new Act on investments by the end of the year to replace the current complex laws. State Minister of Investment Promotion, Dilum Amunugama, revealed this plan during a recent meeting of the Ministerial Consultative Committee on Investment Promotion. The new Act aims to simplify the process for investors in Sri Lanka and eliminate the complexities they currently face.

 

 

In addition, the government has established an Investor Facilitation Centre at the World Trade Centre. Toss the concerns raised by Members of Parliament regarding the difficulties in acquiring investment licenses and other related matters; the centre will provide facilities and solutions to investors and cooperate with all government agencies. 

 

 

Investors will have the opportunity to submit their issues to the heads of relevant institutions, and the centre aims to help resolve these problems promptly. The establishment of this centre is seen as a temporary solution until the new investment laws are implemented.

 

 

Additionally, during the meeting, the MPs highlighted the importance of submitting accurate information on investments to the International Monetary Fund (IMF). Precise reporting of investments is considered essential when working with the IMF.