Malaysian Prime Minister Datuk Seri Najib Tun Razak has intervened to make way for a USD 300 million investment by Dialog Axiata.

The investment by Malaysian-owned Dialog Axiata Plc in Sri Lanka was delayed due to a licensing issue. 

During the bilateral discussions last morning, the Sri Lankan leaders promised to resolve the issue soon.

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 the Malaysian media after meeting Sirisena 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. (With inputs from the star)