Published: 21:25, June 20, 2024
Sri Lanka, Saudi Arabia agree to sign deal to attract investment
By Xinhua
High-rise buildings are pictured in Colombo, Sri Lanka, on March 21, 2024. (PHOTO / AFP)

COLOMBO - Sri Lanka and Saudi Arabia have reached an agreement to enter into a memorandum of understanding to attract direct investment to Sri Lanka, a statement from the government's information department said on Thursday.

The statement said it was for improving the investment environment of the two countries through policy and legal reforms, provision of advanced and integrated infrastructure facilities and process redesign.

According to the statement, the consensus was reached in Saudi Arabia in April.