21 August 2009

Vietnamese investment to flow into North and East of Sri Lanka

14th August 2009, firstlanka.com

Vietnamese investment will shortly flow into North and East of the country following discussions between Investment Promotion Minister,Naveen Dissanayake and Vietnamese Deputy Foreign Minister, Dao Viet Trung.

Minister Dissanayake stressed the need to attract more Vietnamese investment into the once strife torn North and East where permanent normalcy have been now restored.

The two ministers agreed to expand economic relations and business opportunities between the two countries.

They proposed to increase the current bilateral trade between Sri Lanka and Vietnam which was at present at a modest point and noted there was considerable scope to expand and upgrade such ties.

At present the two nations are in a double taxation agreement.An Investment Protection Agreement is due to be signed shortly.

Vietnam has experience in rebuilding and investing in conflict hit regions as Vietnam was a nation badly hit by the American war.

Courtesy: Government Information Department.

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