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Sri Lanka to sign deal with Volkswagen this week

ECONOMYNEXT – Sri Lanka’s government will sign a deal with Volkswagen this week to make vehicles for export, just one month after staring talks with the German firm which this year overtook Toyota as the world’s largest carmaker by sales.

 “From the day Volkswagen said they wanted to invest in Sri Lanka to signing an agreement with them this government took just one month,” Deputy Minister of Highways & Investment Promotion Eran Wickremaratne said.

“This is the difference. This is the attitude we have,” he told a news conference. “We have shown how efficiently the government works. There’s no need to pay anyone, no extra payments to be made. We are transparent.”

The agreement with the German automaker which will build a car assembly plant in Kuliyapitiya, in the North Central Province, will be signed by Prime Minister Ranil Wickremesinghe.

“Investors will come to Sri Lanka only if they have confidence,” Wickremaratne said.

Volkswagen will produce vehicles for export.

Deputy Economic Policy Minister Harsha de Silva has said the firm will make models like Jettas, Passats and vans and  export to south Asian countries and Africa.  (Colombo/August 11 2015)

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