An agreement is reached with Saudi Arabia for investments.

The Cabinet has approved the signing of a memorandum of understanding between Sri Lanka and the Kingdom of Saudi Arabia for cooperation in promoting direct investment.

The two sides have reached an agreement to enter into a Memorandum of Understanding between the Government of Sri Lanka and the Kingdom of Saudi Arabia with the aim of attracting direct investment to the country and improving the investment environment of the two countries through policy and legal reforms, provision of advanced and integrated infrastructure, process redesign etc.

Accordingly, during the special meeting of the World Economic Forum held in Riyadh, Saudi Arabia on 28-04-29-2024, the Cabinet had taken into consideration the information presented by the President as Minister of Investment Promotion that the relevant MoU was signed by the Minister of Foreign Affairs.

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