High-level business delegation of Sri Lankan heritage from Canada visits Sri Lanka. - Opportunity Sri Lanka
High-level business delegation of Sri Lankan heritage from Canada visits Sri Lanka.

High-level business delegation of Sri Lankan heritage from Canada visits Sri Lanka.

Daily FT: High-level industry and corporate leaders of Sri Lankan origin from Canada visited Sri Lanka in order to engage in economic and commercial activity, establish people-to-people contacts and to contribute to the economy of Sri Lanka.
The visit was coordinated by the Ministry of Foreign Affairs and Office of the Speaker in close association with the High Commission of Sri Lanka in Canada and Consulate General of Toronto.
The 18-member delegation consists of two Members of Parliament of Canada, Han Dong and Rachel Thomas, and they called on the President of Sri Lanka, Prime Minister, Speaker of The House, Minister of Foreign Affairs and other political leadership in order to be briefed on the economic and political dimensions of the country.
On the same note, the delegation interacted with corporate and industry leaders of Sri Lanka and attended meetings organised by the Business Chambers, Export Development Board, Board of Investment and other relevant economic and investment institutions.
During the meeting at the Ministry of Foreign Affairs on 3 November 2022, chaired by the Minister Ali Sabry and State Minister of Foreign Affairs Tharaka Balasuriya, along with Foreign Secretary Ambassador Aruni Wijewardane, the delegation stated that the primary objective of the visit was to connect with the people as well as the wellbeing of the people of Sri Lanka, since they have been out of the country for many decades.
As such, they have given much consideration to engage in commercial and investment activity with the aim of uplifting the socio-economic landscape of the country. Their desire to give back to the country stems from having received facilities and capabilities such as education and healthcare afforded to them without any cost.
Most of the members of the delegation own large business enterprises and are founders of companies, mostly based in Canada. They are eager to enter into joint ventures, commercial enterprises and other economic activity as well as charitable endeavours in the country.
Many of the delegates stated that they were keen to re-establish their roots in the country, mostly in Northern and Eastern provinces of Sri Lanka. They envisaged that a visit by overseas Sri Lankan nationals to Sri Lanka would transmit a compelling message to other countries where a large number of overseas Sri Lankans reside. The business delegates were also keen to revitalise the SME sector of Sri Lanka.

OSL take:

Sri Lanka’s ongoing economic crisis, its recovery plan as well as the positive performance of several key economic sectors have attracted the attention of foreign businesses/investors. The resilience shown by Sri Lanka’s economy together with the country’s strategic geographical positioning in the Indian Ocean and strong trade ties have positioned Sri Lanka as an attractive business destination in the South Asian region. The positive performance of the country’s private sector and the profits posted by them are indicative of the growth and business potential of Sri Lanka. Therefore, Sri Lanka presents a lucrative business destination with a host of new business/investment opportunities covering key economic sectors.

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Article Code : VBS/AT/17112022/AT_4

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