Sri Lanka is well on its way to becoming a cosmopolitan hub for foreign investors. Recording an FDI of US$ 1.63 billion in 2017, the nation should be your next destination for lucrative business investments.
Reap the Benefits of a Strong Economy
A peaceful environment, beneficial government policies and increasing investor confidence are the right ingredients. There’s a rise in key sector contributions within the economy, services recording a 56.8% rise. Besides, Sri Lanka now enjoys a ‘middle-income’ status with a rise in per-capita income. Today, the government is focusing on making Sri Lanka a strategic economic axis, planning to establish the nation as a hub for knowledge, naval & maritime affairs, commercial matters, energy and aviation.
The Islands Location is Beneficial
Positioned at a juncture of major shipping lanes, connecting the Far East, Asia, the Pacific, Americas and Europe, Sri Lanka is in close proximity to the dynamic subcontinent of India, the Middle East and Southeast Asia. Excellent air connectivity is a plus while communication systems use SEA-ME-WE III and IV, the mainstay for fibre optic connectivity.
Benefit from Policies Favouring FDI
The high FDI of 2017 was testimony to how well reformed economic policies were received. Perks include total foreign ownership across varied sectors, avoidance of double taxation agreements with 38 countries, no restrictions on repatriation of earnings, fees and FOREX dealings for current account payments.
Open Market Free Economic Policies
The economy is open to international competition while encouraging greater privatisation. Plus, transparent investment laws and other investor benefits are conducive towards foreign stakeholders.
Access to Free Markets
The only nation to hold Free Market Trade Agreements with Pakistan and India, thus, growing mutual trade by 3 fold.
An Educated, Flexible Workforce
Boasting a literacy rate of 92.2%, Sri Lanka is home to an intellectually high workforce, capable of working in the fields of advanced technology services and manufacture.
Investment Protection Policies
Investor protection is guaranteed under Article 157 of the constitution, thus it’s one of the safest nations for foreign investors. ‘Bilateral Investor Protection Agreements’, with 38 investor countries is a bonus.