 |
Advertising | Archive / Search | SL Breaking News | Disclaimer | About Us |  |
 |
 |
 Home |
Serving the Sri Lankan community globally since 2000 |
|  |
Leading News from Sri Lanka ::
Nov 06, Colombo: Sri Lanka and Kuwait yesterday (05) signed the Investment Promotion and Protection Agreement (IPPA) which will open new investment opportunities for Kuwait in Sri Lanka.
The agreement, Sri Lanka's first with a Gulf country was signed at a ceremony held at the Ministry of Finance of Kuwait by the Kuwaiti Undersecretary to the Ministry of Finance Khalifa M. Hamada and Sri Lanka's Ambassador to Kuwait Sarath Dissanayake.
The negotiations on the IPPA have been concluded in June 2009.
Undersecretary Hamada expressed the hope that this agreement will open opportunities in Sri Lanka for Kuwait to become an important partner in Sri Lanka's socio-economic development.
With the return of peace in Sri Lanka there is enormous potential for foreign investors to benefit in a variety of sectors including tourism, hospitality, construction, infrastructure, agriculture, and other booming sectors, he said.
Ambassador Dissanayake said the government of Sri Lanka agrees to safeguard the interest of foreign investors and will offer them attractive incentives and tax benefits. The Ambassador was optimistic that IPPA signed will strengthen the relations between the two countries and reward mutual benefits.
|