Legal Framework
From The Report: Sri Lanka 2016
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This chapter explores the legal framework of Sri Lanka and features topics including foreign ownership rules, efforts to improve investor confidence, and employee rights and protections. It also contains an interview with John Wilson, Managing Proprietor, John Wilson Partners.

Articles from this Chapter

Overview

Law of the land: A look at the legal environment and investment climate
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Immigration-related challenges often create a deterring effect for foreign investors and for the activities of foreign-owned businesses in Sri Lanka, which certainly are necessary to integrating the country into global value chains. Obtaining a visa in Sri Lanka is a difficult process involving administrative procedures that vary depending on the sector. Foreign individuals are prohibited by law from engaging in any employment, paid or unpaid, or from engaging in any business or profession without…

Analysis

Driving FDI: The government is seeking to encourage foreign investment
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Since 1994 Sri Lanka has allowed non-resident investment in most sectors of the economy, and its foreign direct investment (FDI) regime was seen for many years as one of the most open in Asia. In the recent past, however, the government has consistently not met its FDI targets, and 2015 saw a marked downturn. The reasons for this declining trend are debatable, but many consider that several important factors include a lack of stability when it came to certain key aspects of the foreign investment…

Interview

Vital to interests: OBG talks to John Wilson, Managing Proprietor, John Wilson Partners
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Interview:John Wilson How has rule of law evolved in Sri Lanka? JOHN WILSON: I think it is fair to say that we in Sri Lanka, for all our laws, regulations and our constitution, have seen a serious decline of the rule of law. Successive governments have not understood that a country with strong institutions and a strong judiciary is an attractive investment destination. No serious and reputable investor is going to invest money in a country which does not respect or understand the importance…