A busy town of Sri Lanka. (Photo: diabetesvoices.org)
COLOMBO: Sri Lanka has offered investment opportunities in key economic sectors for foreign investors.
The sector has been attracting substantial investment -between March 2020 and June 2021, the Sri Lanka Government has attracted over US$950 million in investments, received 64 project proposals, and approved 38 projects to the value of US$102.38 Million.
These ventures are to be executed under the Sri Lanka Tourism Development Authority (SLTDA).
In order to accelerate tourism investments, Sri Lanka Tourism Development Authority (SLTDA) has launched the Investor Relations Unit to fast-track investment process.
The Unit provides a single point of contact for all tourism investments, giving accurate information and guidance while obtaining approvals from all government agencies.
Likewise, Sri Lanka is extending a host of financial incentives and fast-track processes to get projects off the ground within the shortest possible time.
The Government has arranged attractive financial as well as non-financial incentives for tourism investments such as VAT deferment for large scale projects, simplified VAT scheme and Custom Duty free importation facilities to name a few to compel investors to invest in Sri Lanka.