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Sri Lanka seeks to learn from Vietnam

Sri Lanka seeks to learn from Vietnam

The Morning: Newly elected President Anura Kumara Dissanayake expressed Sri Lanka’s desire to learn from Vietnam’s development experience, especially in the field of economy, during a recent reception for Vietnamese Ambassador to Sri Lanka Trinh Thi Tam.
Receiving Tam in Colombo on 9 October, Dissanayake reiterated his warm feelings towards the country and people of Vietnam, the Communist Party of Vietnam, and the prominent leaders of Vietnam, especially President Ho Chi Minh, who stopped in Sri Lanka three times while seeking a path for national salvation.
He praised Vietnam’s recent socio-economic development achievements and said Sri Lanka would like to learn from Vietnam’s experiences, particularly in foreign investment attraction, trade exchange, tourism development, and corruption prevention.
According to the Dissanayake, Vietnam and Sri Lanka have significant potential for cooperation bilaterally and internationally.
He suggested that the embassy actively engage with relevant ministries and agencies of Sri Lanka to promote cooperation in specific areas, including mutual investment attraction and striving to increase bilateral trade turnover, as well as establishing direct flights between the two countries and enhancing people-to-people and cultural exchanges.
To mark 55 years of bilateral diplomatic relations in 2025, Dissanayake also agreed on the need to continue facilitating the Vietnamese community in Sri Lanka, aiming to make this community a true bridge for Vietnam-Sri Lanka relations.
Ambassador Tam for her part praised Sri Lanka’s achievements in sustaining economic growth, controlling inflation and maintaining the welfare of its people. She expressed confidence that Sri Lanka will soon overcome the current difficulties and challenges, continue to develop stably, and successfully hold the upcoming parliamentary elections.
Vietnam supports Sri Lanka’s efforts to overcome the current crisis and is ready to share its experiences in economic recovery and development, including foreign direct investment attraction and tourism development, she said.
The Ambassador expressed hope that during the 55th anniversary of diplomatic relations in 2025, the two countries would strengthen delegation exchanges, and promote bilateral cooperation mechanisms, to outline directions and measures to enhance cooperation in potential areas such as trade, investment, security, education, agriculture, fisheries, tourism, and culture.

OSL take:
Sri Lanka’s ongoing economic activities that have resulted in the overall expansion of the economy has placed the country in a position to further strengthen the economy. The country is also on a path to become a hub in the South Asian region and therefore, the country is focused on learning from experiences of other countries in the Asian region, especially on the topic of strengthening and building an economy. Sri Lanka already enjoyed strong ties with Vietnam and is now working on further strengthening and expanding business, trade, investment and tourism ties between the two countries. Foreign businesses/investors could look at providing technical expertise and technologies required by Sri Lanka to equip itself to meet the demands of an emerging business destination. The ongoing expansion in Sri Lanka has opened up many business/investment opportunities in the country’s key economic sectors while similar opportunities have also opened up in Vietnam. Foreign businesses/investors could therefore look at exploring business/investment opportunities in mutual areas of business and investment in both Sri Lanka and Vietnam. Given Sri Lanka’s geographical positioning in the Indian Ocean and the many trade ties and trade concessions enjoyed by the country with other foreign countries, foreign businesses could look at setting up bases in Sri Lanka to engage with other countries in the region including Vietnam, using Sri Lanka’s close ties with the country.

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Article Code : VBS/AT/20241014/Z_1

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