The US Embassy says that foreign investments play a vital role in any country’s economy.

The embassy shared the annual investment climate statement, issued by the U.S. Department of State, that outlines many of the challenges foreign investors face in Sri Lanka.

The U.S. Department of State released the 2023 Investment Climate Statements, providing up-to-date information on the investment climates of more than 165 countries and economies. 

The reports cover topics including openness to investment, legal and regulatory systems, protection of intellectual property rights, and labor policies and practices.

The report for Sri Lanka highlights a number of challenges that foreign investors face in the country, including: a complex and unpredictable regulatory environment, corruption, an inefficient government bureaucracy, a lack of transparency, and political instability.

The US Embassy in Sri Lanka said that foreign investments play a vital role in any country’s economy, and that the challenges outlined in the report need to be addressed in order to attract more foreign investment to Sri Lanka.