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US urges Sri Lanka to improve business, political environment

30 September 2011 01:32 (UTC +04:00)

Baku-APA. American Ambassador to Sri Lanka urged the government to upgrade the business environment and achieve political reconciliation with the Tamil minority to achieve sustained economic growth here on Thursday, APA reports quoting Xinhua.

Speaking at the American Chamber of Commerce (AMCHAM) annual general meeting, U.S. Ambassador Patricia Butenis took a strong stand calling on the Sri Lankan government to improve its accessibility of doing business and transparency rankings.

The country two years after emerging from a three decade war with the LTTE, still has not been able to attract significant levels of foreign investment.

Butenis attributed this to the lack of time given to international investors to become aware of Sri Lanka and the government’s own delay in establishing a more business friendly environment.

Sri Lanka’s regional neighbours have performed marginally better in the annual rankings compiled by the World Bank and Transparency International. "Attracting international investment is a tough game and investors don’t put money in a country because they are nice or because that country is emerging from a war. They invest where they can make money," Butenis told the gathering.

The Ambassador then called on the government to actively facilitate political reconciliation with the Tamil minority and encourage the Diaspora to return so that they can contribute to the rebuilding of the country.