The Cabinet of Ministers has been briefed on the Memorandum of Understanding (MOU) signed between Sri Lanka and Saudi Arabia for cooperation in promoting direct investment between the two nations.
Sri Lanka and Saudi Arabia reached an agreement to enter into a MOU to attract direct investment to the country and improve the investment environment of the two countries through policy and legal reforms, provision of advanced and integrated infrastructure facilities, process redesign, etc.
Accordingly, the President briefed the Cabinet on the said MOU, informing that the Minister of Foreign Affairs signed the said MOU during the special meeting of the World Economic Forum held in Riyadh, Saudi Arabia on the 28th and 29th of April 2024. (Newswire)