However, his visit has since been confirmed by the Sri Lankan Minister of Investment Promotion.
The World Association of Investment Promotion Agencies says FDI will contract by a further 12-15% this year.
But before that, AirAsia first needs to receive approval from the Foreign Investment Promotion Board for the proposed tie-up.
The proposal was approved at a meeting of the Foreign Investment Promotion Board, Economic Affairs Secretary Arvind Mayaram told reporters.
In areas that the government wants to monitor more closely, prior approval is necessary from the Foreign Investment Promotion Board.
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The meeting comes a few days before India's Foreign Investment Promotion Board, or FIPB, takes up the airline proposal for scrutiny.
Foreign investors continue to seek permission from the Foreign Investment Promotion Board, even though their plans are covered by the automatic approvals system.
The Federal Government lacks the centralized investment promotion infrastructure and resources to attract business investment that is often found in other industrialized countries.
India's Foreign Investment Promotion Board had approved IKEA's proposal in January.
India's Foreign Investment Promotion Board decided that Vodafone's acquisition of a controlling stake in Hutchison Essar , the country's fourth-biggest mobile-phone operator, did not breach Indian regulations on foreign investment.
After the approval was handed down by India's Foreign Investment Promotion Board, the economic affairs secretary said AirAsia would now have to get the necessary licences from the country's aviation regulators.
Still, Noureddine Zekri, the head of Tunisia's Foreign Investment Promotion Agency, says he is optimistic: of the 3, 200 foreign companies operating in Tunisia, only 35, he says, have withdrawn since the revolution.
India's Foreign Investment Promotion Board on March 6 approved a plan of AirAsia to start a new airline in the country in a joint venture with Tata Sons Ltd. and another local company.
AirAsia in March received approval from India's Foreign Investment Promotion Board to start a budget carrier in India in a joint venture with Tata Sons Ltd. and a privately held Indian company, Telestra Tradeplace Pvt.
But really, there's more to this than meets the eye: according to a chart compiled by the Korea Trade-Investment Promotion Agency, the total number of mobile phones sold domestically between 2002 and 2004 declined steadily.
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The opposition Social Democrats have issued a 10-point programme for the east with some good ideas, like streamlining the bewildering array of investment-promotion schemes and co-ordinating aid via the chancellery.
Health Minister Norman Lamb, who said he quit smoking last week, told BBC Breakfast the campaign was "a good investment in health promotion".
The government's new investment and export-promotion department aims to lure enough foreign companies to the country to provide jobs for most of Oman's school-leavers by the time the oil runs out in 15 years' time.
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However, financial industry lobbyists were successful in having Glass-Steagall repealed in 1999, which resulted in banks becoming heavily involved in brokerage, mutual fund, and proprietary trading activities, as well as the packaging and promotion of questionable investment products like sub-prime mortgages.
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"There is a real downside to the promotion (of the current flu vaccine), as it dampens serious investment and shuts down any real interest in start-ups to create a more effective vaccine, " Osterholm said.
Melville's investment has helped Dundee bolster their squad for the new season and hopes it will help the club win promotion from the First Division.
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