FASTER BUREAUCRACY, CORRUPTION FREE POLICY CAN ATTRACT MORE GERMAN INVESTMENTS - AMBASSADOR

CAN ATTRACT MORE GERMAN INVESTMENTS - AMBASSADOR

- By KELUM BANDARA

German Ambassador Dr. Felix Neumann, asserting that around 300 German brands are currently present in Sri Lanka, said more investments could flow from his country if bureaucracy acts faster, the “corruption-free policy” continues, and investments are properly protected.

Delivering remarks at the monthly ‘Ambassadors’ Roundtable Discussion’ organized by the Pathfinder Foundation, Dr. Neumann said this was the feedback he had received from German companies operating in Sri Lanka. He noted that German firms often compare Sri Lanka’s conditions with those of other countries in the region before committing to investments.

“They compare how long they have to wait to obtain licenses for production or to install plants here,” he said, adding that German companies may look elsewhere if Sri Lanka’s approval processes are not made faster.