Investors explore opportunities in Trincomalee and Hambantota ports
The Morning: As part of the Voyage Sri Lanka 2024 initiative, a group of 20 potential foreign investors from countries including India, Saudi Arabia, Maldives, France, Japan, Thailand, the United States, and Cambodia visited the Trincomalee and Hambantota ports on 24 and 25 November.
The visits aimed to showcase Sri Lanka’s potential as a hub for maritime investments and its growing blue economy.
The delegation explored the opportunities across various sectors, such as marina development, shipbuilding, vessel maintenance, engineering services, bunkering, and related offshore services.
Investors also explored prospects for establishing joint ventures with existing local businesses or initiating new enterprises.
Organised by the Sri Lanka Export Development Board (EDB) in collaboration with key maritime stakeholders, the investment tour coincides with the inaugural Voyage Sri Lanka 2024 Marine Conference, scheduled for today at the Kingsbury Colombo.
The event aims to promote sustainable practices, advanced technologies, and investment opportunities while fostering collaboration between public and private sectors.
OSL take:
Sri Lanka’s strategic positioning in the Indian Ocean in close proximity to the international maritime lanes and the strong trade ties enjoyed with the country with many foreign countries have all helped boost the country’s maritime industry. The expansion in Sri Lanka’s maritime industry, especially in the ports, shipping and maritime sectors have opened up many business/investment opportunities in the industry. These opportunities would see a further increase as time progresses with Sri Lanka targets on becoming a maritime hub in the South Asian region. The growth and business potential in Sri Lanka’s maritime industry is evident by the expanding business/investment opportunities in the industry as well as the interest shown by foreign businesses/investors to engage in these opportunities. Realizing the growth potential in Sri Lanka’s maritime industry, the Sri Lankan government is also focused on further uplifting and developing the ports, shipping and logistics sectors. These development programmes that include the development of infrastructure and supplementary infrastructure facilities required by the expanding maritime industry present a host of lucrative business/investment opportunities in the industry. Also, foreign businesses in the shipping and logistics sectors could explore the expanding opportunities in these sectors in Sri Lanka while also looking at forming collaborations with local businesses with the aim of further expanding operations.
| Article Code : | VBS/AT/20241204/Z_5 |