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romesh@epicentre
Level 1

5 Points

Joined 4 years ago

Comments


As the principal of Epicentre Ventures, I should provide a brief (and hopefully constructive) response to the article:

1. A lot of the criticisms against Sri Lanka as an investment destination are applicable not only to Sri Lanka alone, but to its regional competitors - as the your discussion about corruption demonstrates. By way of example, issues of dispute resolution are faced whenever international investment is involved anywhere in the world. In most contexts, parties usually contractually agree to have these disputes heard in private arbitration as opposed to the local judicial system.

2. I recognize some of the challenges created by regulators and other political actors (again challenges not unique to Sri Lanka). But I do disagree with the notion that Sri Lanka is not a safe investment. Sri Lanka has incredible human capital, intellectual capital and resource capital which collectively create the foundation for tremendous potential for foreign investment. It is only due to the action and inaction of successive governments that this potential has not been realized.

Having just returned from Sri Lanka, its fair to say that this article reflects a general tendency for Sri Lankans to be too hard on themselves. Yes there are challenges, but these challenges are not insurmountable. Sri Lankans living outside Sri Lanka have by and large been quite successful. Maybe all that really needs to be done is replicate some of the same commercial conditions which Sri Lankans living overseas benefit from in Sri Lanka.

Also as a point of clarification about Epicentre Ventures. Epicentre Ventures is not solely about assisting Asian businesses enter the North American market, but also helping Asian businesses create business models to attract foreign investment. While we are presently only accepting clients and projects on a referral basis only, feel free to put projects on our radar by filling in the form on our website: http://www.epicentre.ventures/what-we-do/

Why Don't Foreigners Want to Invest In Sri Lanka? 4 years ago