Sri Lanka invites Vietnam’s Vingroup to invest in the country
The Morning: Sri Lanka has formally invited Vingroup, Vietnam’s largest private conglomerate, to invest in Sri Lanka’s real estate and tourism sectors, citing the island nation’s strategic location and investor-friendly policies, a statement by the President’s Media Division has said.
The invitation was extended by President Anura Kumara Dissanayake during a high-level business meeting at Vingroup’s headquarters in Hanoi on Sunday (4), as part of his state visit to Vietnam at the invitation of Vietnamese President Luong Cuong.
President Dissanayake highlighted tourism and real estate as priority sectors, emphasising Sri Lanka’s geographic advantage, infrastructure upgrades, and policy reforms to attract foreign capital.
The President assured Vingroup of a “smooth and enabling environment” for potential investments, signalling Sri Lanka’s push to position itself as a regional investment hub post-economic recovery.
The Vietnamese conglomerate, founded in 1993, operates across industrials and technology, real estate and services, and social enterprises, making it a strategic partner for Sri Lanka’s development goals.
Sri Lanka aims to leverage Vingroup’s expertise in large-scale hospitality and property projects to boost its tourism sector, which contributes about 5% to GDP.
The discussions included Vingroup Vice Chairperson and CEO Nguyen Viet Quang and Sri Lanka’s Foreign Affairs, Foreign Employment, and Tourism Minister Vijitha Herath.
OSL take:
Sri Lanka is on a path to expand its business and trade ties while promoting the country as an emerging business/investment destination in the South Asian region. Sri Lankan President Dissanayake’s recent visit to Vietnam saw the president engaging with Vietnamese businesses/investors while presenting Sri Lanka’s expanding economy and the growing business/investment opportunities in all key economic sectors. The country’s strategic positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with other countries, the increasing business conducive environment in the country and Sri Lanka’s target of becoming a regional hub have all helped boost the country’s attraction as an emerging business destination in the region. The entrance of many foreign businesses/investors to Sri Lanka and the growth, profits and expansion recorded by local businesses are a further testament to Sri Lanka’s increasing business potential. Vietnamese businesses/investors as well as other foreign businesses/investors could confidently explore the many expanding business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/20250508/Z_1 |