France wants investment stability, eyes leisure sector

Sri Lanka needs to have “investment stability” with a quiet and stable legal environment, French Ambassador Jean Marin Schuh said.

“Sri Lanka is on (the) right path of politics and constitutional reforms and commitments regarding human rights,” but legal stability remains to be addressed, he told the Business Times on the sidelines of a meeting held by the Sri Lanka – France Business Council on Thursday.

One of the main constraints by French Small and Medium Enterprises ( SME) investments was that resident visas are provided only for one year and a request has been made to extend this to five years which will enable a number of people to enter the restaurant and café business in Sri Lanka.

France was keen on investing in the tourism sector with guest houses and restaurants, Mr. Schuh explained.

Moreover, he noted that there were no positive signs on safety and security in terms of money adding that “When people are putting money they must know they will not be a victim of scams.”