Transparency – key to attracting German investment to SL
View(s):Key challenges were discussed at a meeting in Colombo to improve trade and investment ties between Sri Lanka and Germany, following President Anura Kumara Dissanayake’s visit to Germany last month.
The meeting was co-chaired by Arjuna Herath, Chairman of the Board of Investment (BOI) of Sri Lanka, and Martin Klose, Chief Delegate of the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka), AHK said in a media release.
Key challenges identified included the need for: a consistent and reliable policy framework; macroeconomic and financial stability; transparent procurement procedures; equal treatment for all foreign investors; greater ease of doing business; improved coordination between government institutions; and enhanced skills development in the services sector.
To address these issues and ensure continuous momentum, a proposal was tabled to establish a dedicated steering committee to facilitate ongoing dialogue and cooperation between Sri Lankan authorities and the German business community.
The session brought together key stakeholders, including Varuni Muthukumarana, Sri Lankan Ambassador to Germany (joining virtually), officials from the Ministry of Foreign Affairs, the BOI Director General, and representatives from 15 prominent German companies operating in or interested in entering the Sri Lankan market.
A summary of the high-level discussions held in Berlin was presented, underscoring Sri Lanka’s status as an investor-friendly destination and highlighting recent economic reforms and strategic plans aimed at attracting foreign direct investment (FDI).
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