Budget 2019: No foreign investors allowed to bid at govt construction projects
March 5, 2019 04:37 pm
Foreign investors will not be allowed to bid for government construction projects unless the project is fully foreign financed, stated the Finance Minister.
However, foreign investors will be able to bid for government project if they form a joint venture with local companies, elaborated Minister Mangala Samaraweera.
Proposing this at the Budget reading at the parliamentary session today (05), the Minister stated that, this was in order to support the local construction companies. He says that this measure will help local companies benefit from the transfer of technology.
