US firms await clear policy to invest in Sri Lanka

Nov 17, 2015 (LBO) – Many businesses from the United States are willing to invest in Sri Lanka but are waiting more clear and consistent economic policy from the government, the US Ambassador  said at the opening of the US trade fair in Colombo, Tuesday.

“American companies are looking for safe investment opportunities,” Atul Keshap, US Ambassador to Sri Lanka said.

“These companies have hundreds and billions of dollars and are waiting to see more economic policy consistency in Sri Lanka before they bring in their investments.”

These investors and firms are calling for more stable fiscal policies and want the government to pursue reforms that would make the island a more attractive place for investment.

Keshap says that after the election of the new President and the government this year there are new avenues of opportunity for business ties between the two nations.

“We can do a lot to expand our bilateral trade and economic relationship,” he said.

“Sri Lankan people had made clear this year not once but twice through the election that they want to leave the past behind and build a future that is easier for business to operate.” he said.

The US Trade Show 2015 showcases 33 companies, both Sri Lankan and US companies that trade with each other a platform to display their products and services.

The trade show is a joint effort between the US Embassy and the American Chamber of Commerce in Sri Lanka.