Sri Lanka targets $3Bn for 2020 through FDI promotion
At Expo 2020 Dubai, which is anticipated to attract more than 25 million tourists, the government has assigned Rs. Five hundred eighty million to encourage the exports, tourism and investment possibilities of Sri Lanka. The Sri Lankan pavilion will be under the sub-theme ‘ Opportunity ‘ at the six-month Expo in a region of 212 sqm, and the tent will be advertised as ‘ Island of Ingenuity. ‘ The Export Development Board (EDB) is leading Sri Lanka’s involvement in the case with government and private sector stakeholders ensuring the project’s efficient execution.
With the permission of Cabinet and Treasury, the government has assigned Rs. Five hundred eighty million to finance the display facility at the exhibition. This is a tremendous chance to present the island nation as a whole and to uplift the picture of Sri Lanka in the global arena. It will be a more significant opportunity for tourism, trade and investment possibilities in Sri Lanka to be exhibited. Expo Dubai 2020 will be held for 173 days, from 20 October 2020 to 10 April 2021 and will spread over 438 hectares of territory between Dubai and Abu Dhabi.
The World Expo, held once in five years and lasting more than six months, seeks to provide a worldwide forum for innovation and creativity, as well as exposure to sector and trade, company possibilities and partnerships, in the context of global collaboration. Expo 2020 would provide Sri Lankan exporters with a chance to demonstrate the country’s quality and changing export basket. The Sri Lankan pavilion, according to EDB sources, will also encourage the nation as an export hub powered by innovative goods and services, prioritizing the targeted regions recognized in the National Export Strategy (NES).
Entrepreneurs and investors from Sri Lanka could use this platform to access the Gulf region and North Africa markets by capitalizing as a strategic logistics center on the UAE’s place. Especially in export-oriented production, the state expects to attract foreign direct investment (FDI). The Chamber of Commerce and Industry of Dubai and the Chamber of Commerce and Industry of Sharjah have agreed to extend their assistance to business people and investors from Sri Lanka.
Sri Lanka Pavilion organizers have scheduled numerous activities and events to attract tourists, including exhibitions, Sri Lanka Day, unique and experimental games, and market initiative programs while relying on technology such as holograms. A substantial part of government funding would go into marketing operations, with a significant focus on digital media. The Sri Lankan organizers are also working through a mobile app on an aggressive scheme with the organizers of the Dubai Expo to raise awareness of planned activities at the Sri Lankan Pavilion. The mega exhibition will take place on the theme ‘ Connecting minds to create the future. ‘ The organizers intend to welcome more than 190 countries ‘ officials.
OSL Take:
To promote the nation as a destination for tourism and FDIs, Sri Lanka is now carrying out many global promotions. The geographical location, financial circumstances and relevant trade links of the country with many overseas nations make Sri Lanka a company hub in the Indian Ocean area. Participation in Expo 2020 Dubai would provide the perfect forum for Sri Lanka to display its business/investment possibilities to capture overseas business/investor attention.
| Article Code : | VBS/AT/08102019/Z_T1 |