East Asian conglomerate VeriWell Technology Co. from Taipei opens its doors to Sri Lanka.
The Morning: Marking a monumental first for the economic and cultural relations between Sri Lanka and Taipei (ROC), Taipei based business conglomerate VeriWell Technology Co. cemented its position in the business landscape of Sri Lanka with the recent opening of its Colombo based office, a media release by the company stated.
“Since its inception in 2020, VeriWell Technology Co. has emerged as a pragmatic group of companies with the intention of embracing both Sri Lanka and Taipei. The areas in which the conglomerate operates includes solar power, restoration of monuments and cultural relics, investment platforms, automotive, gems and jewellery, food, spices, tea and government academic exchanges,” the statement read.
It noted that in the spirit of building the foundation of a wide expanse of business areas in Sri Lanka, VeriWell Technology Co. also serves as a tourism and immigration advisory service, along with an entire gamut of other services all targeted at creating a hub of business opportunities.
“With the conglomerate establishing a physical presence in a market in which it firmly believes in, the 11th of November 2022 saw the opening of doors for VeriWell Lanka, VeriWell Manpower and VeriWell Travel & Tourism. All of these entities will integrate into the group composed of Li-Yuan Construction and the Taipei Business Council. VeriWell’s corporate headquarters in Sri Lanka is located at No. 203, Castle Street, Colombo 08,” the statement read.
State Minister of Water Supply, Sanath Nishantha who graced the opening ceremony as the Chief Guest said, “I had the privilege of visiting Taiwan when I was a part of the Provincial Public Service Commission. I saw for myself their expertise and know-how in terms of solar and wind power development and I’m confident that we can work together to develop our nation in this regard along with the rest of the areas that VeriWell specialises in. We pledge to offer our utmost support to VeriWell as we embark on such projects. There is also immense potential to harness VeriWell’s skills in order for Sri Lanka to develop its water supply network in our under developed villages,”
Meanwhile, Yen Yu Chen, CEO VeriWell Technology Co. added, “Sri Lanka is a country that is blessed with rich resources, friendly people and natural beauty, all steeped in thousands of years of history. We view this market as a rising economic powerhouse in the South Asian region and immense potential and opportunities exist for the conduct of bilateral trade. We seek to deepen the economic and cultural ties between Sri Lanka and Taipei in an effort to uplift the island nation’s economy. This is a promising venture for us, and we are happy to be here.”
The resilience shown by Sri Lanka’s economy amidst challenging economic conditions and the expansion of opportunities in key economic sectors have attracted the attention of many foreign businesses/investors to enter Sri Lanka. The country’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by Sri Lanka have also helped the country in its endeavor to become an emerging business destination in the South Asian region. Given Sri Lanka’s trade ties in the region, the growing business potential and incentive schemes offered to foreign businesses/investors, foreign businesses/investors could confidently explore the growing opportunities in the country.
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