Sri Lanka is Asia’s brightest star, says Move Channel

Friday, 10 December 2010 00:22 - - {{hitsCtrl.values.hits}}

There can be no denying Asia is the place to secure escalating capital and income returns with Sri Lanka proving to be the brightest star, states the Move Channel in a report on 8 December.

With property markets in the USA, Europe and the Middle East suffering an unprecedented crash and financial markets in a state of flux, it is understandable that investors consider secure investments enabling recovery of losses and ongoing high yields a distant memory. Nothing could be further from the truth, it said.

Whilst the West and Middle East may be firmly stuck in the ‘doldrums’ for years to come, the East is continuing to flourish beyond all expectations, the report added.

“Whilst it would be difficult to find a more beautiful location than Sri Lanka, from an investment viewpoint, this is only part of the equation. Let us be honest, the deciding factor must always be just how attractive is the investment? This is where Sri Lanka and in particular the Eastern Province can really have no equal.”

Sri Lanka’s stable demographically-elected Government lead by its far-sighted President Mahinda Rajapaksa has taken the inspired decision to create the most progressive and attractive economic environment and incentives specifically designed to encourage both corporate and individual foreign investment.

Coupled with a regulated legal and land transfer system with minimal property acquisition costs, investors can be assured that their investment is secure. As a location, few places can compare with this tropical tear shaped island basking in the warm waters of the Indian Ocean just 20 miles south of the Indian mainland; possessing an outstanding wealth of nature reserves, historic cultural sites and wildlife from the pristine untouched white sands and teeming coral reefs of the coast to the breathtaking beauty of the lush forested mountains of the centre.

It is little wonder that, Sri Lanka was rated the number one destination to visit by the New York Times in January of this year. Enjoying year round sun and an average temperature of 26.7c Sri Lanka can justifiably claim to have a true 12-month season.

Of the island’s nine provinces the Eastern Province is perhaps the largest jewel in the crown. Representing approximately 15 per cent of total land area and benefiting from about 85 miles of largely untouched coastline punctuated with lagoons and inshore reefs. The Eastern Province alone has been the recipient of more than US$1 Billion of foreign investment over the last three years to support the Governments comprehensive infrastructure, social and economic long term plans. With more eye watering amounts of foreign investment continuing to pour in, the region is already striding towards the brightest of futures. The United States Economic Intelligence Unit places Sri Lanka in the top ten of the World’s fastest growing economies.

With GDP set to top five per cent this year and projected by leading economists to continue to rise year on year over the next three years there could not be a better time for investors to climb on board.

Although only a brief snapshot of this amazing country and outstanding investment opportunity we appreciate that seasoned and novice investors alike will be eager for more information, the report added.