ANNOUNCEMENT 13 Jun 2013

In June 2013, the government of Sri Lanka announced changed rules for foreign investors.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

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


Inception date: 13 Jun 2013 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

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.
 

AFFECTED SECTORS

 
N/A

AFFECTED PRODUCTS

 
N/A