Baker & McKenzie is currently assisting the government of Sri Lanka with economic transformation on the island.

The firm will draft new laws and revise existing ones relating to fiscal and monetary sector, restructuring insolvency, real estate, assets, residency and property, intellectual property and tax. It is also expected to draft new laws for the establishment of the Colombo International Financial Centre (CIFC).

Additionally, the firm will conduct initial preparatory work to set up delivery labs to develop solutions for problems in the implementation of priority projects. 

According to a report in local media, Sri Lanka aims to increase its economic competitiveness and growth and implement new strategies, both mid-term and in the long-term, to support production and foreign direct investment.