Boasting an FDI of US$ 1.63 billion in 2017, Sri Lanka should be your next target for lucrative business investments. Why?
The Economy is Strong
Favourable government policies, increased investor confidence and a peaceful domestic background are the perfect mix. Performance rise in key sectors has favoured an economic growth, the service sector is the largest contributor 56.8%. The country’s per-capita income has increased, taking the nation to a middle income status. Besides, Sri Lanka is focused on becoming a strategically beneficial economic pivot point, as a knowledge hub, naval & maritime hub, commercial centre, energy hub and aviation hub.
Benefit From an Excellent Location
Sri Lanka is at the intersection of major shipping lanes, joining Far East, Asia, the Pacific, Americas, and Europe; it’s in close proximity to the fast-developing subcontinent of India, while neighbouring the Middle East and Southeast Asia. Air connectivity to is excellent, while communication is a breeze with Sri Lanka connected to SEA-ME-WE III and IV, the backbone of fibreoptic connectivity.
FDI Supporting Government Policies
Reformed economic policies encourage foreign direct investments; 2017 reaped the benefits. Economic policy reform perks include, total foreign ownership across different sectors of the economy, double taxation avoidance agreements with 38 countries, no restrictions on repatriation of fees, earnings and capital including FOREX dealings for current account payments etc.
Open Market Free Economic Policies
Opening the economy to international competition and greater privatisation, together with transparent investment laws and other investor benefits makes the nation a haven for foreign stakeholders.
Access to Free Markets
Only Sri Lanka holds Free Market Trade Agreements with India and Pakistan, growing bilateral trade between the nations by 3 fold.
Educated and adaptable workforce
A literacy rate of 92.2% makes Sri Lanka home to an intelligent and trainable workforce, able to work in fields of high tech production and services.
Investment Protection Policies
Article 157 of the constitution guarantees investor protection, one of the safest nations to be a stakeholder. The signing of a bilateral investor protection agreements with 38 investor countries is quite the assurance.