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Sri Lanka attracting Fortune No. 1 Company PDF Print E-mail
Wednesday, 21 October 2009 14:46

 

Emerging markets such as Sri Lanka has pressed ahead  with extensive plans and tax holidays   to attract foreign investors Dr. Palitha Kohona , Permanent Representative of Sri Lanka to the United Nations said at a  meeting with the Vice President of the  AT & T  Mr. Eric H. Loeb,  a global leading developer and innovator of advanced wireless technologies and data solutions, held  at Rockefeller  Center , New York. The main purpose of the meeting being  to explore the possibility of setting up businesses in Sri Lanka


AT&T  Inc with its revolutionary iPhone 3GS to the next-generation TV services has been a remarkable success and is consistently providing innovative, reliable, high-quality products and services has become an excellent customer care provider. It has  thus achieved the largest number of high speed  Internet  access subscribers and the largest
Wi-Fi network    in the United States of America.  Among their offerings are the world's most advanced IP-based business communications services and USA's leading wireless, high speed Internet access and voice services.  In 2008, AT&T  ranked  No. 1 on Fortune Magazine's World's Most Admired Telecommunications Company.

Dr. Kohona  stated that Sri Lanka’s economic growth has accelerated  at  the end of the island’s 26-year conflict spurred reconstruction projects and increased consumer demand.  Sri Lanka was able to maintain  a 6.8  per cent economic growth rate even during the conflict. Sri Lanka is maximizing the region’s potential for trade and development through strengthening and developing  Free Trade Agreements. Indo- Lanka Free Trade Agreement is an example for strengthening inter-regional economic cooperation and the development of the national economies of South Asia.

He went on to state that since Sri Lanka is strategically located at the cross roads of both east and west sea routes,  it   serves  as   a  major Global Logistics Hub in the South Asian region and its highly literate and cost  competitive labour force provides investor friendly

mechanisms. Government has already allocated certain facilities and incentives  such as duty free imports and tax holidays up to 15 years. Bilateral investment agreements supported by a constitutional guarantee, provides strong protection for foreign investment in Sri Lanka.

Mr. Eric H. Loeb noted that AT & T   continues to focus on building relationships as a multinational customer base and to bring about awareness for companies in Sri Lanka to engage as working partner/vendor. He expressed a desire to positively engage themselves in extending innovative and new technologies to the region with Sri Lanka as a commercial hub.

Mr. Suresh Chandra , Dy Perment Repesentative to the United Nations, Mr.Sanjeewa Perera , Third Secretary of the Mission, Mr.Prashanth Wijedasa and Mr.Dilan Ariyawansa of the USA- Sri Lanka Chamber of Commerce, and other Senior Officials of  AT & T Inc. also participated on this occasion.