Mobile operator hails govt.’s efforts to lift FDI barriers

By Chandeepa Wettasinghe
The current regime has taken giant strides towards removing hurdles that restricted foreign direct investments (FDIs) in the past, the head Sri Lanka’s largest mobile telecom services provider Dialog Axiata said.

“No government has done more during a short time period such as just 7 months, to address the issues relating to foreign direct investments,” Dialog Axiata PLC Chairman Azzat Kamaludin said at the inauguration of the Ceylon Chamber of Commerce’s Sri Lanka Investment and Business Conclave 2016.

He said that the government’s decision to depend on FDIs is the correct move, but it is burdened with balancing growth, domestic reconciliation, and how to make the international community understand the plans and actions they are putting in place to effect domestic reconciliations.

“(But) the problems of governance that bedevilled Sri Lanka—the  Eelam war, and the rampage on tranquilism has now passed,” he said.

He pointed out the benefits of Sri Lanka’s geographical location, quality of human resources and its current tax levels.

Special Projects Minister Sarath Amunugama said that all issues related to lands have been resolved.

In terms of attracting FDIs, Kamaludin said that the Minister of Development Strategies and International Trade has addressed all issues.

“They are doing all they can do for a small country; to become a hub for the second largest economy in the world, working with the subcontinent, China and the US,” he said.

He added that Sri Lanka’s decision to conduct a feasibility study into joining the Trans Pacific Partnership (TPP) is most welcome as well.

Meanwhile, Kamaludin said that judging by the growth of Dialog into the largest mobile telco in the country in such a short span of time despite competition, war, changing governments and changing policies, a high level of confidence can be placed in Sri Lanka.

“Between rationality and anarchy, there’s room for negotiations. As long as this remains, there will be investors. It is necessary to work with the government of the day. We look forward to the best of times to work with a united government towards peace and prosperity,” he said.