The President of Iran, who recently visited Sri Lanka in what was his first ever official visit to the region, has issued an order related to encouraging and supporting investments between Iran and Sri Lanka, according to sources from Tehran.
According to a report released by the Government's public relations office, the Islamic Republic of Iran and Sri Lanka with a view to expanding economic relations have agreed to encourage and support mutual investments with the aim of utilizing their economic resources and potential facilities in investment and also in creating and maintaining proper conditions for encourage investors.
This agreement obliges both sides to support all investments made by the other side's investors and issue required licenses for the investments in accordance to their own regulations, sources added.
Other issues pertaining to the investors' requirements from the respective country will be solved as appropriate in discussion with the relevant parties.
This agreement will become operational for 10 years, 30 days after both sides have announced that it has become obligatory in their country.
(Courtesy : Department of Information )