(LANKAPUVATH | COLOMBO) – The Minister of Labour and Foreign Employment, Manusha Nanayakkara extended an invitation to Kuwaiti investors, highlighting the country’s attractive investment climate.
He emphasized the availability of special fiscal incentives, including reduced corporate taxes and benefits offered in Special Economic Zones, under the Agreement on Promotion and Reciprocal Protection of Investments. This agreement aims to foster mutually beneficial investment opportunities between the two nations.
The Minister extended this invitation during the diplomatic reception held at Cinnamon Grand Hotel yesterday (26th) to commemorate the National Day of the State of Kuwait.
The Minister noted that Sri Lanka and Kuwait signed the Agreement on Promotion and Reciprocal Protection of Investments in 2009, emphasizing that the benefits of this agreement should now become a reality.
He pointed out that a similar framework for trade facilitation has already been established under the Memorandum of Understanding (MoU) between the National Chamber of Commerce of Sri Lanka and the Kuwait Chamber of Commerce & Industry, signed in February 2020.
“I wish to reiterate the massive potential for trade expansion between the countries and propose visits by business delegations from both nations to enhance bilateral trade,” he added.
The Minister addressing the gathering went on to say;
“This commemorates the day His Highness Sheikh Abdullah Al-Salim Al-Sabah became the ruler of Kuwait in 1950.
On behalf of His Excellency President Ranil Wickremesinghe, the Government, and the people of Sri Lanka, I consider it an honor to convey sincere greetings and best wishes to His Highness Sheikh Mishal Al-Ahmad Al Jaber Al Sabah, the Amir of the State of Kuwait, the Government, and the friendly people of the State of Kuwait, on this special occasion.
Sri Lanka and the State of Kuwait have enjoyed close and cordial relations since establishing formal diplomatic ties between the two countries over fifty years ago. The …read more
Source:: Lanka Puvath English