AIIB affirms commitment to Sri Lanka’s development
The Morning: The President of the Asian Infrastructure Investment Bank (AIIB), Jin Liqun, affirmed the bank’s commitment to supporting Sri Lanka’s development, particularly in the green energy sector.
During a meeting at the Presidential Secretariat on 7 October, Liqun and a senior delegation reviewed existing projects and stated future support will focus on green energy and transportation.
President Anura Kumara Dissanayake briefed the delegation on the country’s economic progress, plans to restructure the public sector using Artificial Intelligence, and efforts to attract foreign investments by developing low-cost electricity and a data centre.
OSL take:
Sri Lanka’s ongoing growth momentum has attracted much attention from foreign businesses/investors given the strength, resilience and expansion of the country’s economy following an unprecedented economic crisis in 2022. The country has shown great strength and resilience through the years to internal and external shocks. These movements have served to boost business/investor confidence in Sri Lanka as it works towards becoming a hub in the South Asian region. Sri Lanka’s geographical positioning in the Indian Ocean and the strong trade ties enjoyed with many foreign countries have also given a boost to the country’s positioning as an emerging business destination in the region. The increasing growth and business potential in the country are further evident by the growing commitments as well as pledges being made by multilateral financial institutions towards Sri Lanka’s key economic sectors and development programme. All these factors indicate the increasing business ventures through the expanding business/investment opportunities present lucrative opportunities for foreign businesses/investors on the lookout for such in the South Asian region, especially in Sri Lanka.
| Article Code : | VBS/AT/20251010/Z_1 |