COLOMBO: A US$300mil (RM1.2bil) investment by Malaysian-owned Dialog Axiata Plc in Sri Lanka which has been delayed due to a licensing issue will be settled soon.
Datuk Seri Najib Tun Razak said a mechanism to resolve the issue has been suggested by Sri Lanka's President Maithripala Sirisena over the renewal of Dialog Axiata’s licence.
“He (Sirisena) has suggested that we create a mechanism whereby Sri Lanka will appoint two representatives, while we appoint another two. The representatives will be tasked to resolve the matter as soon as possible.
“I see this as a positive development, that there is light at the end of the tunnel,” the Prime Minister told Malaysian media here after meeting Sirisena Monday.
Najib arrived here Sunday (Dec 17) for his first official visit to Sri Lanka, and held a four-eyed meeting with Sirisena followed by a delegation meeting between both countries on Monday.
It is understood that the renewal application for the company’s service licence in Sri Lanka has been pending for 30 months since May 2015.
Dialog Axiata Plc is a subsidiary of Axiata Group Berhad.
“Hopefully, this matter can be settled not too long from now because Dialog Axiata has the capability to increase their investments in Sri Lanka,” said Najib.
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