In a move to bolster investments in the country, private sector firm D.P.R. Consultants on Tuesday unveiled www.srilankainvestment.com in Colombo to facilitate and provide information about services required by investors.
The firm expects to provide a cost effective service to investors by being ‘one place for business facilitation in Sri Lanka’. D. P. R. Consultants is an investment facilitator and a service provider to local as well as foreign investors.
The benefit of the website is that investors can request services in obtaining Government approvals, company incorporation and registration of foreign branch offices, tax advisory services, accounting and auditing services; and legal and labour law consultations online. The site will also offer investors an idea about the documents and information required for investments in Sri Lanka.
Subasinghe pointed out that the existing system for getting an investment project approved in Sri Lanka is highly complex and time consuming, with archaic policies and multiple approvals from various Government authorities, which eventually exhaust the investor.
“It is the responsibility of the policymakers to develop appropriate policies to drive investments in the country and if policies are not in place there will be no investments,” he stressed.
In the 2016 Budget, the Government brought forward investment friendly proposals such as the new Investment Act, Land Bank and other crucial amendments in investor-related Acts, which are yet to be implemented.
Subasinghe emphasised that it was the responsibility of professionals in the private sector to advise prospective investors with sound legal advice regarding investment procedures in Sri Lanka.
“There is no doubt that everybody should follow the rule of law, but these procedures should be straightforward in order to attract investments,” he said.
Chief Guest of the event Senior Tax and Investment Advisor P. Guruge said that changing laws frequently does not help in attracting investments and that policy consistency is a key issue that needs to be addressed by the Government.
“I hope the relevant authorities will understand the purpose of this website and extend their assistance to strengthen investment in Sri Lanka,” he said.
D. P. R. Consultants Ltd also conduct corporate training, visa facilities for foreign investors and employees, land and building for investors and arranging business meetings with potential investors.