ANNOUNCEMENT 13 Jun 2013
In June 2013, the government of Sri Lanka announced changed rules for foreign investors.NUMBER OF INTERVENTIONS
1
SOURCE
News reports
http://beta.dawn.com/news/1018003/sri-lanka-bans-foreign-investments-in-steel-cement
http://www.reuters.com/article/2013/06/13/srilanka-investment-idUSL3N0EP32420130613
http://www.lankabusinessonline.com/news/sri-lanka-to-ban-foreign-investments-in-to-steel,-cement,-retail-trade/558211879
On 13 June 2013, the Sri Lankan cabinet of ministers decided to curtail foreign investments in sectors where locals have sufficient competence. Specifically, foreign investments are banned in small-scale agricultural industries, retail trade, manufacturing of steel and cement and beauty-care related products.
The ban will not extend to projects that have been already cleared by the country's investmnent promotion authorities.
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