Mechanism set up to remedy issues faced by EU investments

The European Chamber of Commerce of Sri Lanka (ECCSL) recently launched the European Union-Sri Lanka (EUSL) Investor Dialogue, to identify barriers and constraints faced by the European investors in Sri Lanka and find solutions to these issues.

With the launch of the EU-SL Investor Dialogue, the ECCSL will play a catalyst role in investment promotion with the support of Sri Lanka’s Board of Investment (BoI).

Accordingly, the ECCSL together with the BoI will hold monthly dialogue meetings with the European investors and their partners. They will also meet with Investment Promotion Deputy Minister Faiszer Mustapha on a quarterly basis and with Investment Promotion Minister Lakshman Yapa Abeywardena on a biannual basis.

“The EU Business Chamber has been a catalyst in encouraging investment in Sri Lanka. Even during the war, certain European companies believed in Sri Lanka and they gained tangible benefits, while Sri Lanka also had some economic growth thanks to these companies,” Deputy Minister Mustapha said in his keynote address.

Pointing out the importance of this initiative, he added that at various stages, dialogue helps mutual understanding between parties as certain government policies need clarification.

“That clarity could be achieved through dialogue and the EU Chamber has always worked very closely to the Ministry of Investment Promotion to achieve this,” the Deputy Minister noted.

He went on to state that there are issues and grievances in any economy but by working together these could be rectified. “My minister and I have taken it up personally to make this dialogue a success,” he added.

“If a company has any issue, kindly use this dialogue as a mechanism. I believe that lots of people do not use these channels fully,” he said.

The ECCSL is positive that its initiative would facilitate the European investors in numerous ways to explore the possibilities to invest in Sri Lanka and it hopes to expand its services towards contributing to Sri Lanka’s investment and business environment.