The government will present a series of bills in Parliament by June, in an effort to attract more foreign investments to the country, foreign minister Mangala Samaraweera announced today.
The new bills will make way towards creating Sri Lanka to be a more investor friendly nation, which will be more conducive for foreign investors.
“By June we will introduce several bills in Parliament to create an efficient, dynamic and secure business environment conducive for investments,” Samaraweera told the media, soon after his meeting with Swedish Foreign Minister Margot Wallstrom in Colombo.
The bills comes in the wake of back to back setbacks the country has been facing with the President Maithripala Sirisena – Prime Minister Ranil Wickremesinghe coalition government failing to bring in considerably investments to the country, since being elected in January last year. In March, the government received a further blow when international credit rating agency, Fitch Ratings downgrading its ratings on Sri Lanka by a notch to B+ with a negative outlook, followed by Standard & Poor’s revised outlook on its B+ sovereign credit rating to negative, due to mounting concerns of rising debt, weaker revenue and decline in the country’s foreign reserves.