FDI depends on transparency and ‘streamlined policies’

– South Korean envoy

South Korean Ambassador Miyon Lee has assured President Anura Kumara Dissanayake of their readiness to resume investments here.

A statement issued by ROK Embassy in Colombo quoted Ambassador Lee as having reaffirmed willingness among Korean companies to recommence investments in Sri Lanka and expressed expectations on Sri Lanka’s commitment towards maintaining transparency and streamlined policies to attract Foreign Direct Investment for the country.

Ambassador Lee discussed the issue when she paid a courtesy call on President Dissanayake yesterday (09) at the Presidential Secretariat.

During the meeting, Ambassador Lee congratulated President Dissanayake on his inauguration and also conveyed best wishes from President Yoon Suk Yeol and his expectations to bolster the relationship between the two countries under the new leadership.

Ambassador Miyon Lee expressed the Korean government’s unwavering support to Sri Lanka with the continuation of people-to-people exchanges, cooperation in education, health and various other sectors. While expressing Korea’s intention to collaborate on digitalization, climatic change initiatives and in the renewable energy sector, she elaborated the role of the Korean government agencies such as KOICA, KOFIH and Saemaul Foundation working in Sri Lanka and called for Sri Lankan government’s continued support for various activities steered by these agencies in this country.

In line with the commitments set out by the International Monetary Fund, the Ambassador wished Sri Lanka for a successful Debt Restructuring Programme and emphasized the commitments by Korea Exim Bank to renew the framework agreement for loan projects to Sri Lanka.