Transparency in Sri Lanka tenders needed to draw investments: EU envoy

ECONOMYNEXT – Sri Lanka needs to ensure transparency in its project tenders, Ambassador of the European Union Tun Lai Margue said.

The issue was one of the matters discussed at the 6th EU- Sri Lanka investor dialogue held at the Ministry of Development Strategies and International Trade recently.

Many of the earlier outstanding matters had been resolved through dialogue and the joint efforts of the Sri Lanka and EU authorities, a Board of Investment statement said. 

“Among the matters which were discussed was the need to always ensure transparency when it comes to tendering procedures,” it quoted Tun Lai Margue as saying.

“This was very important to build up confidence in the European Union for Sri Lanka.  It is also a factor that impacts significantly on the attraction of FDI inflows to a country.” 

Both sides also discussed other matters such as the need for Sri Lanka to accept digital signatures on documents and the promotion of paperless communication, the BOI said.

The European Union represents an important source of investment for Sri Lanka. 

In the period 2005 – 2016, EU enterprises operating under BOI invested an estimated US$2.5 billion in Sri Lanka.
(COLOMBO, July 11, 2018)

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