Meeting Indian Investors yesterday from Welcome Hotels Lanka Pvt Ltd (100% subsidiary of ITC Ltd) its Chairman Subi George & Vice President of Indian CEO forum Kishore D. Reddy, State Minister of Finance Shehan Semasinghe said that the investment process in Sri Lanka will be speeded up.
The project of ITC includes many partners from Sri Lankan construction markets. Further, the investors discussed the prevailing project of more than USD 114 million which is intended to be extended up to USD 450 million. These will be long-term, benefit-oriented investment plans and they have presented all the construction plans which would be a win-win situation for Sri Lanka. They have chosen the best architects and focus mainly on the safety of the environment and planned to encourage recycling processes while meeting the required standard. With these discussions, many investors expressed their willingness to invest in Sri Lanka, based on the IMF approval.
Soon as the approval is received, there will be huge investments to Sri Lanka from India as well as other countries also. The State Minister explained how the requirements were met to receive the approval from the IMF and thanked the Indian government for the measures taken to provide support at the most needed time. He further said that Sri Lanka was confident of obtaining the necessary support from other countries as well.