By Tahaan Jayewardene Courtesy The Daily Mirror

Colombo, July 26 (Daily Mirror) – Minister of Foreign Affairs, Vijitha Herath yesterday said that the government was free of corruption, and it was now a good time for foreign investors to invest in Sri Lanka.

At the inaugural annual general meeting of the Global Federation of Sri Lankan Business Councils (GFSLBC), the Minister mentioned that investors could now start businesses without paying money or commissions to politicians, and that people could also invest their foreign currencies in Sri Lanka. The event was also attended by President Anura Kumara Dissanayake.

The Minister however mentioned that tax relief to investors could not be given right away and that it would take some time. He added that the economic and political situation in Sri Lanka had become more stable since the new government came in and although it was not fully stable, there was less corruption and stealing. He said the government was trying hard to change the country and improve people’s lives but it could not do it alone and needed the support of the business community and the public.

He mentioned that US tax had been reduced to 30 percent compared to the earlier amount of 44 percent. Noting that despite the decrease, this was still a high percentage, and that President Dissanayake would be speaking to top trade representatives from the United States to try and reduce it further. He also added that they had almost completed all restructuring of the bi-lateral loans.

At the inaugural annual general meeting of the GFSLBC, the first Executive Committee of GMSLBC, was announced.