Press briefing of Cabinet Decision taken on 2017-11-21

Memorandum of Understanding (MoU) between Sri Lanka and the Republic of Korea on Investment Promotion

- The Republic of Korea is regarded as an important country which makes Foreign Direct Investment in Sri Lanka and Korea has already made investments in over 70 companies of Sri Lanka. A number of other sectors have been identified where there is the potential for expanding the Korean investments in Sri Lanka and in this respect, it is appropriate to further strengthen the investment cooperation and collaboration between the two countries.

As such, the proposal made by Hon. Malik Samarawickrema, the Minister of Development Strategies and International Trade, to enter into a Memorandum of Understanding between Sri Lanka and the Republic of Korea to promote investment exchange between the two countries, was approved by the Cabinet.