Korea assess Hambantota Port for investment opportunities
The Morning: The Ambassador for the Republic of Korea in Sri Lanka Miyon Lee visited the Hambantota International Port (HIP), in late May, to explore potential business collaborations and assess the port’s operational capabilities for Korean investment and trade.
During a guided tour of HIP’s state-of-the-art facilities, the Ambassador and her entourage comprising Deputy Head of Mission Eunji Kang and Researcher Minwoo Jo, were briefed on the port’s strategic infrastructure, ongoing developments, and its investment-ready Industrial Park.
Discussions centered on encouraging Korean companies to consider HIP as a gateway for regional trade and manufacturing. HIPG extended an invitation for Korean investors to partner in future ventures within the port’s growing industrial ecosystem.
OSL take:
Sri Lanka’s strategic positioning in the Indian Ocean in close proximity to the international shipping lanes have helped the expansion of the country’s maritime industry. With Sri Lanka working towards becoming a maritime hub in the region, there has been an expansion in business/investment opportunities in the country’s maritime industry and related sectors like ports, shipping and logistics. The growth, profits and expansion recorded by key ports island wide, especially the Port of Colombo and the Hambantota Port, are clear indications of the growth and business potential in Sri Lanka’s overall maritime industry and related sectors. However, the country’s target of achieving regional maritime hub status has resulted in the need for Sri Lanka’s maritime industry to be on par with global standards in relation to technology and infrastructure. Therefore, apart from the direct business/investment opportunities in Sri Lanka’s maritime industry, there’s also an expansion in the emerging indirect opportunities in the industry. The growth and profits recorded by local businesses and foreign businesses currently engaged in the maritime industry are indicative of the lucrative nature of businesses in Sri Lanka’s maritime industry and related sectors. Like the Republic of Korea, other foreign businesses/investors could confidently explore the expanding business/investment opportunities in Sri Lanka’s maritime industry and sectors like ports, shipping and logistics.
| Article Code : | VBS/AT/20250612/Z_6 |