Foreign publication house to compile investors report for Sri Lanka
What matters most to investors is the rule of law situation and a corruption free country with a level playing field, according to Board of Investment (BOI) Chairman Upul Jayasuriya.
Speaking at the signing of a memorandum of Understanding (MOU) between the BOI and the Oxford Business Group (OBG) a global publishing firm in Colombo this, he said investors are welcome to the country irrespective of who they are but depending on their investment. “We offer the best of terms for investors compared to other countries in the South Asian region such as India, Pakistan, Malaysia, Indonesia, Thailand, South Korea and the Philippines following the end of the war five years ago,” he said.
The BOI chairman said although Sri Lanka has been depicted as a tourist destination in the world, to attract investors to the country there is need to present them with a report that contains information regarding investment opportunities available here.The OBG will delve into Sri Lanka’s economy and investment opportunities available in the country and will compile a report at the end of the year that will be presented to investors attending the World’s Economic forum at Davos in Switzerland next January, he said.
Referring to this report by the OBG, he said it doesn’t cost any money to the BOI other than allocating office space to them at the BOI headquarters.
Five OBG economic analysts will arrive in the country shortly and are expected to interview Central Bank officials, stockbrokers, fund managers and others to compile the report. OBG Country Director Brooke Butler said the organisation is a globally renowned publishing house that specialises in providing information to investors in the emerging markets. “With the new government in power in Sri Lanka global investors from the Middle East and Asia are making inquiries about investment opportunities available in the country,” she said adding that OBG’s opinion was that Sri Lanka’s economy has not been understood by investors due to lack of visibility. The BOI in collaboration with the OBG will be able to provide valuable information to global investors keen to invest in Sri Lanka.”We want to inform the international business community that Sri Lanka offers many opportunities to investors in a strategically located country,” she said.
The Sri Lanka 2016 report will analyse the key current drivers of economic growth including industry and construction while exploring the country’s expanding tourism sector.