SL an 'uphill battle' for foreign investors - Blake
Addressing the American Chamber of Commerce on Friday, the US Assistant Secretary of State for South and Central Asia, Robert O'Blake described that foreign investors found Sri Lanka's marketplace an "uphill battle" although it was 3 years after the end of the armed conflict.
Highlighting "opaque" rules, "unpredictable government regulations" and "corruption" as key causes of poor foreign investment, Blake urged Sri Lanka to open up the market, particularly through the liberalisation of rules for foreign direct investment.
See here for Blake's address in full. Extracts published below:
"USAID has established Public-Private Alliances with Sri Lankan companies to expand operations into the North and East to create new opportunities and better livelihoods. These partnerships are helping to re-activate the local economies of the North and East and laying the groundwork for sustainable economic growth that provides opportunities for all Sri Lankans. We believe that creating economic opportunity must go hand in hand with political reconciliation."