Govt. steps up to assure safety for foreign investors

• Malik and Nalin hold one-on-one meetings with investors to reassure support 
• Shangri-La and H’tota refinery investors among those met  
• Malik and Kabir to fly to Oman this week for refinery project
• UNP continues to back MP Sarath Fonseka for Minister of Law and Order or Defence post 
• Govt. refuses to revise $3 b FDI target for 2019 

By Ruwandi Gamage

The Government yesterday said it was stepping up to reassure foreign investors, holding one-on-one meetings with some of the larger project owners to shore up confidence in the wake of the Easter Sunday attacks, and was confident investors would remain in Sri Lanka.   

Development Strategies and International Trade Deputy Minister Nalin Bandara  – Pic by Ruwan Walpola

Development Strategies and International Trade Deputy Minister Nalin Bandara told Daily FT that his Ministry was working to reassure all foreign investors to continue their work in the country.

During the past week, following the unfortunate events, Deputy Minister Nalin Bandara, together with Minister of Development Strategies and International Trade Malik Samarawickrama, had met with investors individually. Bandara also said the Government would not be revising their FDI target of $3 billion for 2019.  

“We arranged meetings and discussed with investors who are already investing in our ongoing projects. 

We met with the investor of the tire factory, the cement factory and oil refinery in Hambantota, separately, during the past week,” he said.

The Minister further said that since the attacks the Ministry had worked towards securing, strengthening and restoring confidence in these investors to follow through with their investments, as pledged. He also added that they were expected to meet with the investors of Shangri-La Hotel on Tuesday evening.

“Minister Malik Samarawickrama and Minister of Highways and Road Development and Petroleum Resources Development Kabir Hashim are expected to fly to Oman on 4 May to discuss about proceeding with the remaining work on the oil refinery project,” Bandara added on the sidelines of a press conference at Temple Trees. 

According to Bandara, much needs to be done to take control of the situation and stabilise national security in the country in order to create confidence to attract new investments. He added that tourism related investments are likely to be the most impacted after the attacks last Sunday, and that it is important to create a safe and trusting environment for the investors, old and new.

“In one hand tourism, and in the other hand investments, are the most impacted after the attacks. However, we have managed to reassure all the ongoing investors to continue work.” 

Adding that the report to be compiled and published by the Commission appointed by President Maithripala Sirisena will be very important to knowing the truth about perpetrators behind the attacks, for the country and for the world, Bandara said that it is their belief that appointing Field Marshal Sarath Fonseka as Minister of Law and Order, and possibly a portfolio in line with the Minister of Defence, is the best step that can be taken to guarantee safety in the country.

“There’s a big voice in the country requesting Sarath Fonseka to be appointed as a Minister, possibly for Law and Order or even Defence. Even the Prime Minister had earlier requested in a letter for the post to be given to Sarath Fonseka,” Bandara told media. However, under Sri Lanka’s Constitution, the Defence Ministry is usually held by the Executive President. 

Also speaking at the press conference, MP Thushara Indunil Amarasena also echoed these sentiments, while extending condolences for the families of victims, and prayers for speedy recovery for the wounded. Amarasena told media how each representative of the Government, including himself, has to accept collective responsibility for the unfortunate events that took place on Easter Sunday.