Sri Lanka's finance minister, Ravi Karunanayake said Sri Lanka intends to revise investment rules to attract foreign direct investment (FDI) by easing barriers of entry, Lanka Business Online said.
Delivering the keynote address at the 18th Asian Investment Conference organised by Credit Suisse, the minister said the external account is a problem and as almost half a percent of the country’s public borrowing is denominated in foreign currencies, he said he favours a stronger rupee to reduce debt servicing costs.
“Little Sri Lanka needs help to meet its people’s expectations and become the pearl of the Indian Ocean,” Mr Karunanayake said.
"Almost three decades of civil war and years of misrule, meant that Sri Lanka missed the opportunity to be to India what Hong Kong is to China.”
The minister forecast 7-7.5 percent GDP growth for 2015 which will be driven by tourism, agriculture and petroleum.
Sri Lanka requires more FDI to sustain growth - minister (18 October 2014)
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