Sri Lanka, March 5 -- The Government has increased the limit for businesses to invest overseas from US$ 200,000 to 500,000 and personal account limits have been raised to US$ 25,000, Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe told Parliament.

"Today, we are introducing new exchange regulations under the Foreign Exchange Act No. 12 of 2017.

We are gradually relaxing the restrictions imposed during the height of the economic crisis, signalling that we are becoming a financially stable nation.

"We are encouraging Sri Lankan entrepreneurs to take our national brands to the world. Recently, a local biscuit manufacturer purchased a factory abroad, and a leading garment brand expanded its operations in th...