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Sri Lanka tech industry warns of sagging investor confidence; calls for swift end to constitutional crisis

Nov 23, 2018 12:02 PM GMT+0530 | 1 Comment(s)

ECONOMYNEXT - Sri Lanka's tech industry chamber SLASSCOM called for a swift end to the ongoing constitutional crisis as investors hesitate to set up or expand businesses in the island nation, it said.

“We have already heard of companies who are concerned to setup or expand their business operations in Sri Lanka based on the present turmoil," Jeevan Gnanam, Chairman of the Sri Lanka Association for Software and Services Companies said in a statement.

The tech chamber called for transparency, consistent application of law and order, and urging the need to uphold the views of the judiciary and the constitution.

"Unless this is done immediately, Sri Lanka will not be viewed as a compelling or competitive destination to attract foreign investment," he said.

"We are also deeply concerned about the worldwide media publicity on the happenings in parliament and the resulting negative impact done to our image in the eyes of the world. Unfortunately, this damage cannot be easily undone," he said.

SLASSCOM's statement in full:

The Sri Lanka Association for Software and Services Companies (SLASSCOM) representing the Knowledge Services and Innovation industry, Sri Lanka’s fifth-largest and highest value- adding exporter, requests a swift, constitutional settlement to the current political crisis.

Jeevan Gnanam, Chairman SLASSCOM, speaking on behalf of the SLASSCOM Board of Directors and General Council, stated that “As an industry body, we are disappointed to see the current state of indecision and the inability to arrive at a swift settlement by the parties concerned.

"We are also deeply concerned about the worldwide media publicity on the happenings in parliament and the resulting negative impact done to our image in the eyes of the world. Unfortunately, this damage cannot be easily undone.

“We have already heard of companies who are concerned to setup or expand their business operations in Sri Lanka based on the present turmoil. While we understand any nation can and will encounter political changes, we ask for transparency and a consistent application of law and order, upholding the views of the judiciary and the constitution.

"We urge those in authority to put aside personal prejudices and narrow agendas at this point and collaborate towards the national interest.

"Unless this is done immediately, Sri Lanka will not be viewed as a compelling or competitive destination to attract foreign investment.

"In this regard, we also ask for sustaining policies and executing initiatives already put in place with the participation of the industry.
"In closure, we again request a swift settlement without permitting this uncertainty to continue, while upholding the constitution and the laws of the land.” (COLOMBO, 23 November 2018)


 

1 Comments

  1. Lalith November 23, 12:32 PM

    At last we have some sensible comments. Bravo Slasscom for showing our fake emperors to be utterly naked of any business sense

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