Daily Mirror (Sri Lanka)

Dialog’s investment­s set to top US $ 1.5bn

- BY CHANNA FERNANDOPU­LLE

Foreign director investment­s (FDIs) by Dialog Axiata PLC—a unit of Malaysia’s Axiata Group—to Sri Lanka is set to top US $ 1.5 billion, crossing the cumulative US $ 1.35 billion it has already invested with the signing of a US $ 150 million infrastruc­ture developmen­t agreement with the country’s Board of Investment (BoI), yesterday.

The latest investment from Dialog is aimed at expanding its 4G, 3G, high-speed broadband, fibre optics and internatio­nal telecommun­ication networks.

Dialog Axiata PLC Group Chief Executive Dr. Hans Wijayasuri­ya stated that the latest phase of investment­s would contribute significan­tly to the improvemen­t of Sri Lanka’s ICT infrastruc­ture while enhancing services across the island.

“The continuing i nvestments that we are making will lead to the introducti­on of more modern technology and contribute towards Sri Lanka becoming a flagship nation in the region.

Sri Lanka already has the most affordable high-speed broadband and voice tariffs in the region. Looking beyond Dialog, the whole telecom industry has really achieved 360 degree success,” Dr. Wijayasuri­ya stated.

He added that total group investment­s were expected to cross US $ 1.5 billion with the completion of infrastruc­ture developmen­t projects currently underway, likely reaching completion within the next two to three years.

Given Dialog’s long history of investment in Sri Lanka, Wijayasuri­ya commended the government on the facilitati­on of foreign investment­s into Sri Lanka.

“In our experience, Sri Lanka has always had a very progressiv­e attitude towards foreign investment­s and while there are certain bottleneck­s, overall the government should be commended for the enabling environmen­t when it comes to such investment­s,” he stated.

In 2011, Dialog was recognised by the BoI to be the first investor operating under its aegis to deliver a cumulative investment in excess of US $ 1 billion to Sri Lanka and was also recognized as the single largest foreign direct investor along with its parent Axiata group.

The first service provider in South Asia to launch mobile 4G FD-LTE services, Dialog is the industry leader in mobile telecommun­ications and digital pay-tv in Sri Lanka.

 ??  ?? Dialog Group CEO Dr. Hans Wijayasuri­ya exchanging the agreement with Investment Promotion Minister Lakshman Yapa Abeywarden­a in the presence of Deputy Investment Promotion Minister Faizer Mausthapa, Secretary M.M.C. Ferdinando, Additional Secretary...
Dialog Group CEO Dr. Hans Wijayasuri­ya exchanging the agreement with Investment Promotion Minister Lakshman Yapa Abeywarden­a in the presence of Deputy Investment Promotion Minister Faizer Mausthapa, Secretary M.M.C. Ferdinando, Additional Secretary...

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