Sri Lanka, Sept. 10 -- Sri Lanka should establish an independent maritime regulatory authority to ensure fair competition and attract foreign investment while the country still has an opportunity to strengthen its position as a regional maritime hub, United States Federal Maritime Commission (FMC) Chairperson Laura DiBella said.

She said a dedicated regulator, similar to the FMC, could oversee shipping alliances, prevent anti-competitive practices, discourage excessive freight rates and establish clear rules that would give international investors greater confidence in Sri Lanka's maritime sector.

"A clear regulatory framework de-risks the market for foreign direct investment. Capital avoids environments with arbitrary constraints or ex...