Cabinet approval has been granted to enter into a Memorandum of Understanding between Sri Lanka and Saudi Arabia for cooperation in promoting direct investment, Cabinet Spokesman Mass Media Minister Dr. Bandula Gunawardhana said. He was speaking at the weekly Cabinet media briefing held yesterday at the Government Information Department.
Sri Lanka and Saudi Arabia have reached an agreement to enter into a MOU with the intention of attracting direct investment to the country and improving the investment environment of the two countries through policy and legal reforms, provision of advanced and integrated infrastructure facilities and process redesign. Accordingly, the information presented by the President that the Foreign Affairs Minister signed the MoU during the special meeting of the World Economic Forum held in Riyadh, Saudi Arabia on April 28 and 29, 2024 was taken into consideration by the Cabinet of Ministers.
Ishara Mudugamuwa
