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New Act to clear obstacles for investments

Jun 10, 2010 11:08:37 AM - itnnews.lk

A new Act will be adopted in Parliament if necessary to overcome obstacles for investment.

Deputy Minister Lakshman Yapa Abeywardene said that the necessary background now prevails for the attraction of a multitude of foreign investors. Even if they come to Sri Lanka under this environment, they confront obstacles in planning their investments, as experienced in the past. As such the Cabinet appointed a four member Sub Committee in the past. Within the next three to four weeks, the Committee will discuss with all relevant sectors and draw their attention to these obstructions.

Addressing the media today the Minister said that if necessary they will make proposals for the enactment of an Act in Parliament to overcome these obstacles.