France to invest $ 300m in Lanka

By Naalir Jamaldeen

Sri Lanka will receive between US$ 300 to 400 million in investments from France.

This follows the recent visit of Deputy Investment Promotion Minister Faizer Mustapha to France to participate in the Mouvment des entreprise de France (MEDEF) in France. MEDEF is a front line French institution

Deputy Minister Mustapha said that France's main source of income was investing abroad and not from exports.

The private sector is the main income generator in France and the backbone of the economy.

Mustapha said that he held discussions with MEDEF, CEO and 20 other industrialists.

LAFARD and other institutions which have invested in Sri Lanka have expressed satisfaction with the facilities provided by the Government to foreign investors and also with Sri Lanka's skilled labour force.

“The French investors who have invested in Sri Lanka encouraged other countries to invest here as the environment was conducive for foreign investment,” he said.

“Many French investors are ready to invest in Sri Lanka where already a large number of French investment projects are functioning,” the Deputy Minister said.

“The Sri Lankan Ambassador in France will an effort to attract French investments.

The tour to France was a milestone in strengthening bilateral relations between the two countries and attracted more French investors,” he said. Even though certain countries have different political views, collectively they are keen to invest in Sri Lanka,” Mustapha said.

“I hope to visit Brussels next month and meet prominent investors,” he said.

USA and European countries are the main export market of Sri Lanka. When companies from those countries invest in Sri Lanka they will produce products and services required in those countries. Therefore, marketing won't be a problem.

Certain South Asian countries which produce goods and services depend on other a third party to market their products. When a French company invests in Sri Lanka it has its own market in France, Deputy Minister Mustapha said.