Sri Lanka-UAE to sign investment agreement during Presidential visit

Wednesday, 12 February 2025 00:20 - - {{hitsCtrl.values.hits}}

Sri Lanka and the United Arab Emirates (UAE) have reached a consensus to sign a key agreement aimed at strengthening mutual investment, promotion and security.

The Cabinet of Ministers on Sunday approved this agreement to be signed during President Anura Kumara Dissanayake’s official visit to the UAE.

The deal is expected to establish a legal framework to regulate foreign direct investment (FDI), ensuring a stable and transparent environment for investors.

“The Attorney General has cleared the proposed agreement confining its legal viability,” Cabinet Spokesman and Minister Dr. Nalinda Jayatissa said at the post-Cabinet meeting media briefing yesterday.

For 2025, Sri Lanka is aiming at attracting $ 2 billion FDIs.

Beyond investment, he said the agreement will serve to strengthen broader economic ties between Sri Lanka and the UAE, a country that has been an important trading hub and a key source of remittances for the economy.