Sri Lanka will draft a law to protect investors against expropriation, to boost investor confidence cabinet spokesman Nalinda Jayatissa said.

Investors also do not come to countries where policies change suddenly, he said.A committee has already been appointed who had prepared a concept paper.The cabinet had given approval to refer the paper to the Legal Draftsman to prepare a bill on investment protecton, Minister Jayatissa said.The bill gives effect to a 2026 budget proposal, he said.However the budget also decreed a wage hike on privatized plantations and there was a threat of not renewing leases.

ECONOMYNEXT