Norway to invest in a big way in Sri Lanka

Norway-Map-Flat-1Norway is upbeat on Sri Lanka’s economic performance.  Therefore, more than US$ 400 million worth of investments are in the pipeline, Norwegian envoy to Sri Lanka Thorbjorn Gaustadsaether said at a forum in Colombo.


“Sri Lanka is one of the best places to invest and we are hoping to enhance trade and investment in the future. At present total trade value of both countries is US $, 32 million and there is a great potential to develop trade and investments in both countries,Gaustadsaether told the Sri Lanka-Norway Business Cooperation meeting on Thursday held at Galle Face Hotel Colombo. The forum was organized by the CCC.

He said that in the future, Norway will invest in several areas like IT, energy, tourism, science and technology and several other areas, because the Norwegian government is also keen on assisting their potential investors to invest in Sri Lanka.


Minister of Development Strategy and International Trade Malik Samarawickrama said the government is considering providing assistance to start wind-power projects and also many energy based projects in the Mannar basin as well.


He said the government should remove land tax for foreigners who are investing in Sri Lanka. Norwegians wants to own the land where they invest because they believe it is a source of security for their businesses, he added.


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