Norwegian firms keen on investing in Sri Lanka

ECONOMYNEXT – Norwegian companies are keen on investing in Sri Lanka and are happy with the new government’s liberal policies, Norway’s envoy said, noting that good governance and rule of law were important for investors. 

Thorbjourn Gaustadsaether, the Ambassador of Norway to Sri Lanka, said Norwegian firms  were particularly interested in the oil and gas, shipping, renewable energy and fisheries sectors.

“I have been contacted and informed by Norwegian companies of their interest to work in the oil and gas industry where we believe Norwegians have much to offer,” he told a forum on bilateral trade between Sri Lanka and Norway held by the National Chamber of Commerce of Sri Lanka.

“Technical expertise and support services in the oil and gas industry are key areas where I believe Norwegian private sector can play a key role.”
In the maritime sector, Norwegian companies can play a key role in support services, supply and technology transfer, Gaustadsaether said, noting that the Norwegian Ship Owners Federation is the largest in the world.

 “Good governance, rule of law and sound economic management go hand in hand,” Gaustadsaether also said.

“Predictability and managing risks are key for any investor. Getting the systems and priorities right are important.”
Norway is keen to support Sri Lanka’s reconciliation process and rebuilding of the economy.

“Norway, among other international players, is happy to note the new government’s open and liberal policies for business and investment,” Gaustadsaether said.

“It could lead to more business and commercial expansion, including higher exports of locally produced goods and services.”  (Colombo/January 20, 2016)

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