Japan to invest in Sri Lanka’s digital transformation and port development
Daily FT: President Anura Kumara Dissanayake recently met with Japanese Ambassador Akio Isomata and discussed issues of bilateral interest.
During the meeting, the Ambassador officially invited President Dissanayake to visit Japan and expressed appreciation for the new Government’s policy framework.
The Japanese Ambassador stated that efforts have been made to include Sri Lanka in the recently launched security cooperation assistance program by the Government of Japan.
Extensive discussions were held regarding the ongoing and future initiatives of the joint Japan-Switzerland-South Africa program aimed at fostering national reconciliation among the northern communities affected by the 30-year conflict. Additionally, they reviewed the current status of Japanese investments in Sri Lanka.
Furthermore, the current status and progress of digital economic and airport investments were discussed. The Ambassador also reaffirmed Japan’s commitment to supporting Sri Lanka’s digital transformation program, emphasising the Government of Japan’s intention to invest in port and aviation-related projects, as well as digitalisation initiatives in Sri Lanka.
The discussion was attended by Advisor to the President on Economic and Financial Affairs Dr. Duminda Hulangamuwa, Senior Additional Secretary to the President Roshan Gamage, First Secretary and Head of Economics and Development Cooperation Section Ohashi Kenji, and First Secretary and Head of Political Section Murata Shinichi.
OSL take:
The increasing confidence in Sri Lanka’s growing business potential is evident by the commitment shown by the Japanese to invest in the country, especially in the digital and maritime industries. It further indicates the increasing business potential in the digital and maritime industries as well. The strength and resilience shown by Sri Lanka’s economy after facing an economic crisis in 2022 has raised the confidence of foreign businesses/investors to explore the growing business/investment opportunities in Sri Lanka. The country’s strategic positioning in the Indian Ocean, the many trade agreements as well as concessions enjoyed with other countries and the move to become a regional hub have all added to the country’s attraction as an emerging business destination that is being explored by foreign businesses/investors. Given Japan’s interest in Sri Lanka’s digital and maritime industries, Japanese businesses/investors could confidently explore the business/investment opportunities in these industries. Japanese businesses could also look at forming partnerships or joint ventures with local businesses in order to expand operations. Given all these positive developments, foreign businesses/investors could enter Sri Lanka and enjoy the benefits of the country’s increasing business potential.
| Article Code : | VBS/AT/20250307/Z_3 |