The Justice Minister gave this assurance at recent meeting of the parliamentary committee on public enterprises.

The International Arbitration Centre has been established in 2015 with a view of developing Sri Lanka as a regional hub of providing servicers related to Law and Order taking into consideration the professional capabilities in the legal sphere of Sri Lanka.

The main function of the centre was the settlement of disputes arisen in consequence of international commercial agreements and such other international relations as well as to resolve any commercial-related disputes.

This centre was empowered to assist investors who may have various disputes with the local collaborators to seek immediate remedies for their grievances.

It has been observed that there were instances where local collaborators have misled foreign investors forcing them to abandon their projects and leave Sri Lanka even after losing much money and time.

The other objective was to prevent laws delays in commercial arbitration cases as the court procedures in these matters take a very long time frustrating foreign investors.