The Employers’ Federation of Ceylon (EFC) said last week that it has launched the second edition of its “Guide to Investors” handbook to help both national and international organisations wishing to invest in Sri Lanka.
EFC Director General Ravi Peiris said the release of this publication coincides with a time when Sri Lanka is recording very healthy economic growth. “To sustain this growth it is imperative that we attract more investment into our country. We believe that more investment would result in more employment opportunities which should bring about good employment practices and ensure that the economic development cycle would revolve smoothly,” he said in a media release.
Last year both the World Bank and the International Finance Corporation (IFC) ranked Sri Lanka as one of the most business friendly countries in the world, placing it higher than both China and India as a country that welcomes investors to its business community.
IFC Executive Vice President/CEO Lars Thunell, said Sri Lanka is a “focus country” for the IFC’s South Asia programme. “IFC sees great potential here and we are expecting a strong programme for 2012, with a plan to increase our portfolio by $200 million. IFC is placed to support the country’s growth and development,” he was quoted as saying during a recent visit to Colombo.
The EFC said it believes that this publication would be of immense assistance to prospective investors, both foreign and local, as it would give a “snapshot” picture of the industrial relations regulatory framework and the operation of it in Sri Lanka.
The Guide highlights some of the important employment related laws and regulations in very simple language. It also gives some practical examples on handling employee related issues.