COLOMBO, March 8 (Xinhua) -- Sri Lankan Prime Minister Ranil Wickremesinghe on Tuesday told investors that his government had created the right business climate for enterprises to enter.
In a statement read on behalf of Wickremesinghe at the "Sri Lanka Investment and Business Conclave 2016" held in the capital, the Prime Minister said that his government, led by President Maithripala Sirisena, was putting in place mechanisms that would not only strengthen the country's economy but also many others sectors such as the political and social aspects.
He further said that Sri Lanka was rebalancing its foreign relations with its traditional friends and important international trading partners and the island nation was now open for business with the world.
"After many years of isolation in the international community we are brining back our standing and respect overseas," he said.
"We are taking the necessary steps to guard against global adverse conditions, strengthen our domestic economy and improve the fundamental conditions that will make our economy resilient."
Minister of Special Assignments, Sarath Amunugama said that Sri Lanka's strategic location in the Indian Ocean was an advantage for foreign investors who wanted to access other global markets such as the Middle East, India and China.
"We are right in the center. On one side we have the Middle East. On the other side we have the huge market of India and of course China with whom we have excellent relations," he said.
Amunugama further said that Sri Lanka had all the facilities in place for large scale investments with easy access to lands and an educated workforce.
Foreign Minister Mangala Samaraweera said that Sri Lanka was in the process of restructuring its economy to encourage greater investments and increase its exports.
He further said that the government was in the process of creating a transparent and rule base level playing field for all businesses.
"Today we want the best the world can offer for our people. Our friendship with our neighbor India has reached new levels of excellence in the last 12 months," he said.
"Our historic relations with our other neighbor and friend, China, are strong as ever and next month's visit by the Prime Minister to Beijing will further strengthen our ties with Beijing," he said.
He further said Sri Lanka shared close relations with the west as well.
More than 100 investors from over 27 countries are participating in the three-day business conclave which is being held in Sri Lanka for the first time in a bid to attract more foreign investments.