Sri Lanka and Thailand discuss and explore mutually-beneficial investment corridors
Sri Lanka’s Embassy and Permanent Mission in Bangkok together with the Board of Investment (BOI) of Sri Lanka and China Harbour Engineering Company (CHEC) Port City Colombo Ltd. has co-hosted a high-powered dialogue with leading line agencies and trade chambers of commerce in Thailand. The move was aimed at enhancing and expanding investments between Sri Lanka and Thailand as well as to explore opportunities.
Several senior level dignitaries from Thai-Sri Lanka Chamber of Commerce, Thailand Board of Investment, Thai Chamber of Commerce and Board of Trade Thailand, Federation of Thai Industries, Department of South Asian, Middle East and African Affairs, Ministry of Foreign Affairs of Thailand and Department of International Economic Affairs, Ministry of Foreign Affairs of Thailand had participated in these talks to explore and identify bilateral investment opportunities between the two countries, the Daily FT has reported.
The discussions have focused and explored multiple investment opportunities Sri Lanka offered by the CHEC Port City and also other key economic sectors of Manufacturing, ICT, Hospitality and Tourism, Agri and Food Processing, Infrastructure and Other Services.
Ambassador of Sri Lanka to the Kingdom of Thailand and Permanent Representative to the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), C.A. Chaminda I. Colonne had opened the discussion.
The envoy has said, “Under the National Policy Framework ‘Vistas of Prosperity and Splendour’ and the 20 Foreign Policy guidelines of the present Government led by President Gotabaya Rajapaksa, priority has been given, Sri Lanka to become an investment friendly country with high level of doing business to attract sustainable foreign direct investments.”
Sri Lanka’s BOI Chairman Sanjaya Mohottala has provided a comprehensive overview of Sri Lanka’s investment climate and outlined the country’s unique investment focused propositions.
Mohottala has said, “These discussions have exposed us to the vast potential of investment prospects that can open the doors for transformational change and positively impact the future of both our economies. Sri Lanka offers dynamic and many opportunities, and we warmly welcome the investment community of Thailand to take advantage of this potential, which enables global enterprises to establish regional headquarters in Sri Lanka through the CHEC Port City and make full use of our suite of strategic investment propositions ranging from its key thrust sectors, market access, geographic location, economic fundamentals, winning & capable talent, and quality of life.”
Thailand Board of Investment Thai Enterprise Development Division Director Punlop Punyasiri, Board of Trade Thailand Vice Chairman of Committee on South Asia, Middle East and Africa Affairs Songsang Patavanich and Textile Industry Association President Somsak Srisupornwanich, representing the Federation of Thai Industries have also addressed the forum.
OSL take:
Sri Lanka enjoys strong bilateral and trade ties with foreign countries especially in the Asian region. With Sri Lanka fast becoming an emerging business destination in the South Asian region and the ongoing aggressive development programme covering all key economic sectors have opened up a host of business/investment opportunities in the country. Sri Lanka’s geographical positioning in the Indian Ocean, the many trade agreements and concessions enjoyed by the country as well as the continuously improving ease of doing business environment in the country have all made Sri Lanka an attractive business/investment destination. Therefore, given the growing relations between Sri Lanka and Thailand, Thai businesses/investors could explore opportunities in Sri Lanka as well as look at forming partnerships or joint ventures with local businesses.
| Article Code : | VBS/AT/07102021/Z_2 |