Sri Lanka and the United Arab Emirates (UAE) have agreed to sign a mutual investment promotion and security agreement which is expected to be signed during the President’s official visit to the UAE.
Aimed at strengthening foreign direct investment (FDI) regulations and fostering a more investor-friendly environment, the agreement seeks to enhance bilateral trade and investment ties while ensuring legal protection for investors from both countries.
Cabinet Spokesman Minister Nalinda Jayathissa said that proposal has received clearance from the Attorney General’s Department.
Accordingly, the Cabinet of Ministers has approved a proposal by the Minister of Foreign Affairs, Foreign Employment, and Tourism to formalize the agreement during President Anura Kumara Dissanayake’s visit to the UAE for the World Government Summit in 2025. (Newswire)