Trade & Investment

An Overview of Sri Lanka's Trade Policy

Sri Lanka has been practicing an open economic policy since 1977.  The economy has been growing steadily during the past few years with a rate of over 8% in 2014.  GDP growth remains one of the healthiest in the region at 7.3% with per capita income at USD 3,191 in 2013.  The country also has a high literacy rate of 95.6% and an unemployment rate of 4.4%.

The main exports are textiles and apparel, tea and spices, rubber products, precious stones, coconut products and fish. Sri Lanka is world famous for tea and overseas employment of Sri Lankans is also a significant contributor to the economy. Key imports include petroleum, textiles, machinery and transportation equipment, building materials, mineral products, foodstuffs.  Sri Lanka's main markets include USA, UK, Japan, China, India and the Middle East.  Among the main import markets are Japan, India, UK, USA, among others.

Sri Lanka has signed Free Trade Agreements with India, Pakistan and China.  It is also a member of the South Asian Free Trade Area (SAFTA), APTA, BIMSTEC and a member of the G-15.

Sri Lanka has been successfully moving towards achieving the Millennium Development Goals and has achieved halving poverty, gender equality and education goals. 

The Ministry of Industry and Commerce and particularly its Department of Commerce, is tasked with Sri Lanka's trade policy, implantation and promotion, especially overseas.  

For more information please visit the following websites:

Ministry of Industry and Commerce: www.industry.gov.lk

Department of Commerce: www.doc.gov.lk

 

Why Invest in Sri lanka

Sri Lanka has one of strongest economies in the South Asian region, with a growth rate of over 8% in 2014.  Strategically located in the Indian Ocean, with a large and dynamic services sector, an educated and skilled workforce, excellent infrastructure and global connectivity, Sri Lanka is an ideal destination for the foreign investor.  The country is also fast emerging as an air, maritime, energy, knowledge and commercial hub in the region.

The Government of Sri Lanka has put in place several regulations to promote and protect foreign investment, including total foreign ownership in almost all areas of the economy.  There are no restrictions on repatriation of earnings and the safety of foreign investment is guaranteed under the constitution.  There is also a sophisticated and transparent legal framework in place.  Sri Lanka has signed 28 bilateral investment protection agreements and 38 agreements on the avoidance of double taxation.   Free trade agreements with India, Pakistan and recently with China, also provides access to these large markets. 

Sri Lanka's export processing zones and industrial parks have been a linchpin in the industrial development and inflow of foreign direct investment into Sri Lanka. The country's economic development zones are seen as benchmarks of successful implementation of zone development strategies. 

Sri Lanka’s strategic location in the Indian Ocean is an added incentive for the investor, as it is situated in one of the world’s most important and busiest maritime routes.  The country is also well connected by air.   The Government has heavily invested in infrastructure and energy.  Yet, Sri Lanka is also mindful of environmental protection and sustainable development. 

The Board of Investment of Sri Lanka (BOI) is the key institution regarding the promotion of investment and the one stop shop for all potential investors to Sri Lanka.  

For further information regarding investing in Sri Lanka, please visit the BOI website on. www.investsrilanka.com


 

HOW TO INVEST IN SRI LANKA

Sri Lanka has many assets to attract investors. Among many others, some of them are

  • Its geographic key position in the Indian Ocean and on the New Silk Road;
  • Its well trained, qualified and high committing staff;
  • Best developing country in South Asia and best developing emerging country worldwide (reference: Bertelsmann Report 2018);
  • Its stable Democracy, complying to international standards;
  • Highest standards of respect and protection of environment and working conditions in South Asia;

The Board of Investment of Sri Lanka (BOI) is dedicated to assist all investors who wish to invest in Sri Lanka or are considering Sri Lanka as an investment opportunity. It was established in 1978 targeting on the development of the surrounding vicinity of Colombo. In 1992, its mandate was enlarged to the entire country.
The BOI has determined six sectors of investment and encourages international stake holders to invest in those domains.
The sectors are:

If you wish to invest in one of the above or any other domain, BOI will be happy to assist you in

For further information, please visit www.investsrilanka.com.


 

ICB CALL FOR PROPOSALS OFFSHORE FLOATING STORAGE AND REGASIFICATION UNIT

The Ministry of Power and Renewable Energy has called Proposals (REP) from prospective developers for the development of an Offshore Floating Storage and Regasification Unit (FSRU) and Pipeline Infrastructure and Supply of liquefied Natural Gas (LNG) for Ceylon Electricity Board of Sri Lanka.

The official Tender Notice can be downloaded here. For further information, please visit the website of the Ministry of Power and Renewable Energy.


 

BID NOTICE FOR SALE OF HEAVY MINERAL SANDS TENDER 1810 & 1811 (2)

The Chairman of the Cabinet Appointed Tender Committee of the Ministry of Industry & Commerce on behalf of Lanka Mineral Sands Limited has invited for International Competitive Bids for sale of Heavy Mineral Sands in Pulmoddai, Sri Lanka.

The soft copy of the bid notice can be downloaded here.


 

BID NOTICE FOR SALE OF HEAVY MINERAL SANDS TENDER 1812 & 1901

The Chairman of the Cabinet Appointed Tender Committee of the Ministry of Industry & Commerce on behalf of Lanka Mineral Sands Limited has invited for International Competitive Bids for sale of Heavy Mineral Sands in Pulmoddai, Sri Lanka.

The soft copy of the bid notice can be downloaded here.


 

Notice for call for Tenders

Current Calls for tenders:

Bid forms are available at the Sri Lanka Embassy in 1040 Vienna, Weyringergasse 33 - 35, 4th floor.

Procurement Notice for the Supply of 4,300 nos. Inverters 110 V, 20W DC to Sri Lanka Railways - Procurement no. SRS/F.7575

Closing date: 10 January 2018

The Procurement Notice may be downloaded here.


Procurement Notice for the Procurement of 1,500 nos. EN 45 EI (45 Feet-grade R 350 HT) Rails to Sri Lanka Railways - Procurement no. SRS/F.7612

Closing date: 22 January 2018

The Procurement Notice may be downloaded here.


Procurement Notice for the Procurement of 100,000 nos. Bolts & Nuts to Sri Lanka Railways - Procurement no. SRS/F.7606

Closing date: 30 January 2018

The Procurement Notice may be downloaded here.


Office Time

Office Days:            Monday - Friday

Consular Hours:         09:00 - 12:00
Office Hours:              09:00 - 17:00

Contact us

Address: 
Embassy and Permanent Mission of Sri Lanka
Weyringergasse 33, 4th floor
1040-Vienna
Austria
 
Telephone: +431/5037988
Fax: +431/5037993
Email: slmission@srilankaembassy.at



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