"SELF DETERMINATION IS KEY TO THE WORLD PEACE"
COLOMBO – Global credit ratings agency Moody’s on Monday warned that Sri Lanka’s new law to nationalise “under utilised” private firms was a blow to attracting foreign investment into the island.
The government on Friday signed into law a controversial bill that allows the nationalisation of companies that had received state land or tax breaks in the past 20 years. It has earmarked 37 firms for takeover.
“The measure may undermine the predictability of future policies and increase investor uncertainty, which would make it credit negative for Sri Lanka,” Moody’s said in a statement.
It said the government’s “seizure of assets creates ambiguity around the protection of private property” and warned that investor confidence was key to wooing much needed foreign capital.
Sri Lanka has been trying to attract investment since security forces defeated Tamil rebels in May 2009 and declared an end to nearly four decades of ethnic bloodshed which had claimed up to 100,000 lives and dented the economy.
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About us
Global Peace Support Group UK Ltd is a registered organisation based in London. The organisation dedicated to be involved in humanitarian and other related issues. We also work along with other similar organisations to promote peace and harmony among various societies..
GLOBAL PEACE SUPPORT GROUP - UK - TIRELESSLY WORK ON THE CONCEPT OF:
"SELF DETERMINATION IS KEY TO THE WORLD PEACE"
MOURNS ON THE CONTINUED TRAGEDY OF THE PEOPLE OF North & East of Tamil EELAM WITH THE HOPE OF ALL OF OUR ENDEAVOURS WOULD BRING AN END TO THOSE SUFFERING DURING THE YEAR AHEAD.
The International community has a duty towards the long suffering Sri Lankan Tamil population to restore their rights of SELF DETERMINATION.
Global Peace Support Group - believes that this is the ONLY way for a permanent PEACE in Sri Lanka.
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