Omani investor delegation concludes visit to Sri Lanka expresses interest in a 100 MW solar park
The Sri Lankan Embassy in the Sultanate of Oman had recently organised a successful visit of an investor delegation to Sri Lanka from Oman’s Shumookh International LLC, which is an investment arm of Madayn – the Public Establishment for Industrial Estates of the Sultanate of Oman.
The delegation led by Shumookh International Executive Director Abdullah Al Bulushi had reportedly called on Sri Lanka’s President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa.
The delegation had also held a series of constructive discussions with Sri Lanka’s Finance Minister Basil Rajapaksa, State Minister of Finance, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal, State Minister of Solar, Wind and Hydro Power Generation Projects Development Duminda Dissanayake, Governor of the Central Bank Prof. W.D. Lakshman, as well as with various agencies of the Sri Lankan government and high-level government officials, on the specific investment opportunities available in Sri Lanka.
The delegation had also paid field visits to potential investment sites in Colombo and Hambantota.
Shumookh International LLC had reportedly signed a memorandum of understanding (MOU) with Sri Lanka’s Urban Development Authority (UDA), expressing their interest in investing in selected projects, the Daily FT has reported.
The Omani delegation has also expressed interest in investing in the Sri Lankan Government Securities.
Shumookh Investment Services of Madayn has already submitted an investment proposal to the Government of Sri Lanka for the development of a 100 MW Solar Park in Siyabalanduwa, according to local media reports.
Ambassador of Sri Lanka to the Sultanate of Oman Ameer Ajwad earlier this year met with Chief Executive Officer of the Public Establishment for Industrial Estates – Madayn as well as the Chairman of Shumookh Investment and Services of the Sultanate of Oman Sheikh Hilal Hamad Al Hassani and briefed him on the unfolding investment opportunities in Sri Lanka, the Daily FT has added.
Ambassador Ajwad has reportedly stated that the series of recent visits undertaken by the investor delegation from a high-profiled Omani establishment, despite the Covid 19 pandemic travel restrictions, have demonstrated their keen interest in deepening economic engagement with Sri Lanka, in particular for investments in high-end commercial properties, selected infrastructure projects and securities.
Sri Lanka’s economic expansion and the positioning as an emerging business destination in the South Asian region have helped attract the attention of foreign businesses/investors. The island’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country have further boosted Sri Lanka’s attraction as a business destination in the region. The government of Sri Lanka has also launched an aggressive development programme aimed at taking the country to the next level of development. All these have caused the expansion of several key economic sectors. The country’s economy has also shown great resilience to external internal challenges through the years and is once again on the path to recovery after facing the impact of the global Covid 19 pandemic. Foreign businesses/investors could confidently explore business/investment opportunities in Sri Lanka.
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