Sri Lanka Targeting Overseas Tourism Investment

Posted: 18 Jul 2009 | 10:03 am

A new era of optimism and positive sentiment has arrived in Sri Lanka after its lengthy Tamil war and the country is now opening its doors to reforms meant to grow the fledgling tourism industry. Foreign direct investment targets for 2009 are now set at US$1 billion. The Sri Lankan Board of Investments is offering incentives for as low as US$250,000 depending on the industry and for amounts over US$1 million 100% foreign ownership is being permitted.

The country has a double tax treaty with many key counties which include Thailand and is offering a 15 year tax holiday in under developments regions. One of Thai's close neighbor's Myanmar has been long pegged to see an upsurge in investment if and when the current Government succumbs to a global call for democratic elections; though based on the current status of Ang San Suu Kyi there is little chance of this anytime soon.

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