There has been very good response from Sri Lankan expats resident in UK, USA, Australia, New Zealand and the Middle Eastern countries to invest in the Government`s International issue of Sri Lanka Nation Building bonds to the value of US $25 million, said Head of Sri Lankan Central Bank, Foreign Investment Unit ? S. Ranasinghe on Tuesday.
The two incentives of duty free vehicle permits and interest rates on par with the Central Banks of the UK, USA and German Governments went further in attracting the investments.
Any investor who purchased bonds to the value of US 50,000 or equivalent in Euros or Sterling Pounds were eligible to import a vehicle to the CIF values of $10,000.
There is a maximum ceiling on the vehicle permit to a maximum of US 35,000 dollars.
`As far as I can remember several years ago a similar exercises by developing nations such as India and Malaysia were very successful in drawing investments for development, he said.
The investments could be in either sterling pounds, US dollars or Euros.
The interest rates are very attractive. The government has agreed to pay interest for Sterling Pound investment at 4.64 per cent, the interest paid for 5 year UK Treasury guilt rates and for dollar investments 5 year US treasury rate of 4.93% and Euros 3.76% the 5 year bond rates paid by the German government.
There are four categories of investors first are non resident Sri Lankans who had migrated abroad.
Secondly Sri Lankans who are employed aboard and those who had set up business abroad.
Thirdly those Sri Lankans who had dual citizenship in Sri Lanka and abroad.