State Minister for Investment Promotion Dilum Amunugama says that a new Act on investments in Sri Lanka will be introduced by the end of this year in order to replace the existing complicated laws.
He assured that the complicated situations faced by investors in Sri Lanka would be eliminated by the next year.
State Minister Amunugama has made this remark in response to the questions raised by the parliamentarians regarding the complexities in acquiring licenses for investments in Sri Lanka and other matters, during a recent meeting of the Ministerial Consultative Committee on Investment Promotion.
Furthermore, the lawmaker emphasized that an Investor Facilitation Center has been established at the World Trade Center to provide facilities to investors including solutions for the issues they are facing. The centre will be operated in coordination with all government agencies, he added.
Amunugama also pointed out that the investors have been given the opportunity to submit their issues to the heads of related institutions, adding that this center will help investors solve their problems without delay.
He noted that this procedure would be in place as a temporary solution until the new laws are implemented.
During the meeting, the parliamentarians have also highlighted the need to submit accurate information on the investments brought into the country, highlighting its essentiality while working with the International Monetary Fund (IMF).
source adaderana
