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Foreign investments will flow into Sri Lanka

Sep 26, 2010 12:04:27 PM - itnnews.lk

Foreign Investments are expected to flow into Sri Lanka from all directions following the pledges made by foreign leaders to the President.

Top US businessmen have agreed to invest in Sri Lanka. President of Hungary Pal Schmitt has pledged assistance in carrying out the development process when he met with the President in New York. Hungary is already making arrangements to grant 35 million Euros to Sri Lanka. The Hungarian Government will continue to provide concessionary loans. The Hungarian Government has agreed to carry out renovations of the Kalatuwawa Reservoir in Labugama. The leaders of the two countries also focused on promoting tourism. The Hungarian President said that Sri Lanka will be recognized as a tourist destination in his country. It was also agreed to provide educational opportunities for students in the Hungarian Universities. Hungary will be the next President of the European Union. Hungarian President informed that Sri Lanka will be assisted through this capacity as well. The President also met with Malaysian Prime Minister Abdul Razak. The Malaysian Prime Minister stated that the entrepreneurs in his country will be encouraged to invest in different fields in Sri Lanka. The President appreciated the assistance rendered by Malaysia in eliminating terrorism. The two leaders agreed to provide training for Sri Lankan troops at the Skyte Military Training Academy in Malaysia which is one of the best defence training facilities in the region. Meanwhile, the President met high level business delegations of the US. They discussed investment opportunities in Sri Lanka. Around 100 top businessmen participated in the meeting.