SL, UAE to ink investment promotion agreement

12 February 2025 07:26 am Views - {{hitsCtrl.values.hits}} 3 Bookmark

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Sri Lanka is set to sign a mutual investment promotion and security agreement with the United Arab Emirates (UAE), aimed at creating a robust framework for foreign direct investment.

The agreement, which has received clearance from the Attorney General, will provide a structured legal mechanism to regulate investments and ensure a conducive environment for both investors and their investments, the Department of Government Information said.

The Cabinet this week approved the proposal, which will be formally signed during President Anura Kumara Dissanayake’s official visit to the UAE for the World Government Summit 2025.

The move is expected to boost foreign direct investment from the UAE into Sri Lanka, enhancing bilateral economic ties in investment and trade.

Comments - 3

FDIs are so good! Wednesday, 12 February 2025 09:21 AM

Those who vehemently opposed FDIs, claiming they would amount to the "sale of national assets", are now inking agreements to facilitate FDIs! No investor will invest in a foreign country unless he/she gets a return on the investment and other benefits, perks and protection from the beneficiary nation. In other words, no entrepreneur will invest because of the "benevolence" he/she has towards another nation! Sri Lanka is no exception. Where are the "Malimawa" activists who propounded and propagated false propositions about the sale of national assets under the guise of FDIs?

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Concerned Citizen Wednesday, 12 February 2025 11:37 AM

NPP will be successful in bringing FDIs since they do not ask for commissions like the previous governments.

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HOBSONS CHOICE Thursday, 13 February 2025 12:24 PM

I agree with the comment of Concerned Citizen. Mr 10 % had wanted a kick back from a foreign party where they were offering FREE a badly in need of FACILITY to turn garbage to energy. They left having informed the authorities. NPP came to effect changes to the culture that prevailed for a long time where corruption had ruined the country. I cannot see anything wrong if they have now realised that progress cannot be achieved without FDI’s. The simple question people must ask is whether this family centric governance should continue.

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