During the discussion, Ms. von Schönburg addressed the current situation, concerns of existing German FDIs in the country, and potential to increase new German FDIs to Sri Lanka. She also emphasised the significance of having a consistent legal framework and an investor-friendly climate in order to meet the government's investment aspirations. Meanwhile, the State Minister outlined the mid- and long-term targets of the Sri Lankan government and expressed full cooperation in promoting both new and existing German investments in Sri Lanka.
Cutting red tape to attract skilled workers The German Parliament has passed a new migration law to attract skilled workers to the country. The reform of the Skilled Immigration Act seeks to redress the skills shortage in the country by relaxing the immigration requirements for foreign skilled workers. Reduced bureaucracy and increased flexibility will see non-EU nationals with a degree obtained or recognized in Germany able to pursue work outside the specialism in which they studied. Foreign nationals no longer need to have their degrees recognized where they can provide proof of at least two years’ professional experience and a qualification that is recognized by their country of origin. The new feature of recognition partnerships allow individuals in possession of a job offer to work for the German employer while their degree is being officially recognized. Relaxing EU Blue Card conditions The new act also makes provision for lower Blue Card visa eligibility criteria while increasing entitlements including leave to remain and family reunification. Furthermore, it will be easier for skilled IT professionals with distinct work experience not in possession of a university degree to come to Germany. “Opportunity Card” facilitates job search A new points-based “Opportunity Card” will make it easier for job seekers to come to Germany. The new scheme will see foreign nationals who do not yet have a position allowed to stay for one year in order to find work if they meet the required point score. During this period they can take up casual employment for up to 20 hours a week while seeking a qualified position—with probationary employment also allowed. Source: GTAI
The AHK World Business Outlook (WBO) is based on a survey of over 5,100 German businesses worldwide. At the beginning of the Breakfast Dialogue, Ms. Marie Antonia von Schönburg, Chief Delegate of AHK Sri Lanka, presented the results of the WBO and compared the worldwide responses with the results of the survey among the German brands and companies in Sri Lanka Afterwards, Ms. von Schönburg invited three panelists, namely, Ms. Smita Pandit Chakraborty, chief executive officer of Continental; Mr. Ranjith Pandithage, chairman and managing director of DIMO; and Mr. Niranjan Figurado, chief country officer of Deutsche Bank in Sri Lanka, to analyze the results from their companies’ perspective. The discussion covered topics related to how companies ought to maneuver through challenging times given the current state of the Sri Lankan economy. Emphasis was also placed on how economic growth and stability is to be achieved while also concurrently working with the government. Furthermore, there was also substantial dialogue on international cooperation and discovering methods of eliminating barriers blocking the path towards achieving economic development.