Shirajiv Sirimane in London
Two Middle East banks and an Asian Bank will be opening in Sri Lanka soon,Finance Minister Ravi Karunanayake said.
Speaking at the Invest Sri Lanka Investor Forum in London, he said that this is in addition to a Japanese bank opening their offices in Sri Lanka next year. “Together with the Prime Minister we have reactivated global investors who did not have a good relationship with Sri Lanka last year,” he said.
He said that now investor confidence is building and this proves the international investor community is behind Sri Lanka,” the Minister told investors at the forum. Commenting further he said that the government will provide all assistance for foreign investment and land ownership laws too will be relaxed depending on the size of the investment.
The Minister said that exchange regulations too will be relaxed at the next budget and exchange rules will be made something of the past.
He said that the local private sector too should get a wake up call and look at opportunities. “We will provide several incentives from the budget specially for the agriculture and logistics sector whihc we think the private sector could capitalise on”.
www.dailynews.lk
Two Middle East banks and an Asian Bank will be opening in Sri Lanka soon,Finance Minister Ravi Karunanayake said.
Speaking at the Invest Sri Lanka Investor Forum in London, he said that this is in addition to a Japanese bank opening their offices in Sri Lanka next year. “Together with the Prime Minister we have reactivated global investors who did not have a good relationship with Sri Lanka last year,” he said.
He said that now investor confidence is building and this proves the international investor community is behind Sri Lanka,” the Minister told investors at the forum. Commenting further he said that the government will provide all assistance for foreign investment and land ownership laws too will be relaxed depending on the size of the investment.
The Minister said that exchange regulations too will be relaxed at the next budget and exchange rules will be made something of the past.
He said that the local private sector too should get a wake up call and look at opportunities. “We will provide several incentives from the budget specially for the agriculture and logistics sector whihc we think the private sector could capitalise on”.
Tokyo Mitsubishi Bank to set up office here
The Bank of Tokyo Mitsubishi UFG Ltd (BTMU) will be opening a new representative office in Sri Lanka by end of March 2016.
BTMU is the largest Bank in Japan established on January 1st 2006 with the merger of Bank of Tokyo Mitsubishi Ltd and UFJ Bank Ltd., It has a strong client base among leading Japanese corporates. This development facilitates investment by Japanese companies into Sri Lanka,an official said. The Bank said there are more than 100 Japanese corporates that have been investing in Sri Lanka and more investments are expected.
In the establishment of the new representative office in Colombo the Bank Tokyo Mitsubishi partnered with the Board of Investment of Sri Lanka and signed an agreement on 18.08.2014 with the BOI.
Under this Memorandum of Understanding the Bank said that it would promote Japanese investments in Sri Lanka and foster business partnerships between Sri Lankan and Japanese entrepreneurs.
www.dailynews.lk
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