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Last Updated : 2024-05-18 20:50:00
30 August 2023 09:54 pm - 14 - {{hitsCtrl.values.hits}}
Visiting U.S. Senator Chris Van Hollen, in response to a query about the investment climate of Sri Lanka, stressed the need to speed up work to set up a single window or one-stop- shop to facilitate investments.
In an interactive session with a select group of journalists, he said American companies look at the situation, economics and decide in their own when investing, and his message to the government is to create certainty for American companies about their investments in the country.
“And so what we will do is encourage American companies to look at the situation in Sri Lanka and make a determination about investment. But what we've said to – the message to the Sri Lankan government -is the best way to achieve that is to make sure that an American company making an investment can be certain about its stability; that they'll be able to essentially get the benefit of their agreement; that things won't change midstream,” he said.
He said American companies will also be looking very much at the question of transparency in the system, and it goes back to the point about the interconnection between investment and the political situation.
“I think U.S. companies will be looking at whether or not the government of Sri Lanka is making progress on the fronts that we talked about earlier in terms of political reform, reconciliation. These are all important contributing factors,” he said.
The U. S. senator who was in Sri Lanka 50 years back in Sri Lanka when his father was the U.S. ambassador rekindled his memories related to the celebration of the 25th anniversary of bilateral ties with then Prime Minister the late Sirimawo Bandaranaike.
“And I just brought a few mementos to prove I was actually here at the time. One is this brochure that my father put together on the occasion of the 25th anniversary, spelling out the history of friendship between the United States and Sri Lanka. And as you probably know, the history runs deep. And Mrs. Bandaranaike, Prime Minister Bandaranaike, was the Prime Minister at the time. And on the occasion of the 25th anniversary, my father presented this booklet to her, and it was on our National Day. As I prepared for this trip, I went through a lot of archives, and I came upon this picture which is my father, my mother, Prime Minister Bandaranaike, me, and my two sisters,” he said, referring to them.
He said he remembered the Kandy Perahera. He rushed to Kandy yesterday to see the Perahera once again, accompanied by U.S. Ambassador Julie Chung.(Kelum Bandara)
Mandayan Wednesday, 30 August 2023 10:41 PM
No chance for the country to recover until the politicians think they can do politics vis racism.
Buddhist Wednesday, 30 August 2023 11:05 PM
The only way any substantial foreign investment will come to Sri Lanka is after the Presidential, General and PC elections. Why not keep all three elections on the same date to save money?
GHT Wednesday, 30 August 2023 11:48 PM
You'd better keep away from Sri Lanka's affairs, letting CHINA develop this Island Nation. You crooks are interfering in our sole sovereignty to bid for the price. So, mind it is not a place for that. You guys somehow succeeded bringing forcibly a failed leader to Sri Lanka ousting the people's leader who was elected by the very people. But it will never prevail for at least so long.
Quolp Wednesday, 30 August 2023 11:51 PM
Your playmate Ranil may prepare himself to remain SLAVE under your command, but the people are never.
Mahila Thursday, 31 August 2023 03:44 AM
It has never been ONE-STOP-SHOP, because for last few decades of ignominious deals and 5 star Hotel Class COMMISS Agents, mainly with government political backing!!!??? We’re an advanced community, compared to the 1960’s and 1970’s era!!!??? These vultures are now virtually “stealing” (BRIBES) in Billions of USD (preferred currency) for not only their survival but for their PROGENY for a millennium, at the least!!??
DD Thursday, 31 August 2023 05:48 AM
In my view, the main concern for everyday people is the high cost of living. Our vulnerability to market fluctuations due to the need to import petroleum products causes the cost of living to constantly fluctuate. To address this, we could seek assistance from Americans to invest in green energy solutions like solar and electric power. Simultaneously, we should work towards reducing our reliance on oil, transitioning our economy towards solar and electric foundations. This approach would enable us to establish our own clean energy power plants and generate our own energy. Given that the U.S. is a significant global oil exporter, we might consider seeking their support to stabilize petroleum costs.
Potta Harry Thursday, 31 August 2023 06:01 AM
Expecting one stop shop or single window for investment approval in Sri Lanka is actually joke. Many authorities regulated by different laws to delay the process and discourage the investor.
Hashan Thursday, 31 August 2023 06:55 AM
There is one shop to deal with foreign investments and Basil is running it.
joshua Thursday, 31 August 2023 09:14 AM
Investment climate will be same until we wipe out bribery, corruption, political interference, unstable tax policies etc. No chance of this improving at present.
Ara Thursday, 31 August 2023 09:27 AM
What does he know about Lankan beuracrasy and corruption
Mandama Thursday, 31 August 2023 10:08 AM
Mrs. B did less harm compared with CBK and other blue based politicos as Heads of state.
Silva Thursday, 31 August 2023 11:00 AM
and the Chinese will let this happen?? No way.
Hitler Thursday, 31 August 2023 11:02 AM
US Senator Chris must first see whether there is DEMOCRACY functioning in SriLanka. Julie who is here does not seem to know that Democracy is evaporating ?
Fred Thursday, 31 August 2023 03:43 PM
Stock markets can help with capital formation and access to capital but what is equally or more important is to whom the benefits accrue. Should benefit the host nation equally or more not just the investing companies.But that requires planning by the host nation probably what Singapore did when they invited foreign investment.
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