Sri Lanka woos Belt and Road Initiative investors
Daily FT: Sri Lanka has invited investors, businesses, and institutions within the Belt and Road Initiative (BRI) to explore the opportunity that Sri Lanka offers.
The invitation was extended by Trade, Commerce, Food Security and Cooperative Development Minister Wasantha Samarasinghe during his remarks at the inauguration of the two-day Belt and Road Summit in Hong Kong, China under the theme ‘Advancing High Quality Development, Embarking on a New Journey.’
Over 6,000 leaders from the government and private sectors from 70 countries are attending the Summit organised by the Government of the Hong Kong Special Administrative Region and Hong Kong Trade Development Council, with the support of The Commissioner’s Office of China’s Foreign Ministry in the Hong Kong S.A.R. The Belt and Road Summit is a premier international platform for promoting business collaboration along the Belt and Road. This year’s event is the 11th edition.
“Sri Lanka is focused on strengthening innovation, investor confidence, and imploring ease of doing business and promoting investment opportunities across a range of sectors, including renewable energy, logistics, tourism, information technology, advanced manufacturing, agricultural technology, promoting value additions, and food processing,” Minister Samarasinghe said.
The BRI Summit was inaugurated by People’s Republic of China Hong Kong Special Administrative Region CEO John KC Lee. Among the global leaders in attendance were Uzbekistan Prime Minister Abdulla Aripov, Uruguay Vice President Carolina Cosse, and Laos Deputy Prime Minister Saleumxay Kommasith.
Among Trade and Commerce Ministers attending and speaking at a policy dialogue titled ‘Building Resilient Trade and Investment Frameworks in a Diverse Global Landscape,’ Minister Samarasinghe emphasised that in a rapidly changing global environment, resilience is no longer simply an advantage but a necessity.
He said that Sri Lanka’s economic strategy is focussed on export-led growth, high productivity, continuous innovation and technology, private sector development, and sustainable and inclusive economic growth.
He said that international trade is increasingly connected with digital technologies, green growth, resilience, supply chain, investment flows, and development of new industries.
“To achieve this, our approach must be comprehensive. First, we must strengthen and diversify our trade partnership. Second, we must promote investment that creates long-term value. Foreign investment should not only bring capital; it should also support technology transfer, skills development, innovation, and export by education and global creation,” Minister Samarasinghe told the BRI Summit in Hong Kong, China,
He said that International partnership can play an important role. “The BRI has created opportunities for dialogue and cooperation among countries with diverse economic structures and development priorities and Sri Lanka remains committed to make maximum use of the initiative via greater collaboration,” he said.
“We strongly believe we need stronger multilateral and regional partnership, more open and inclusive trade. Greatest support for developing economies is needed to participate effectively in the global value chain. The future trade must be resilient, but it must also be inclusive. Developing countries, small and medium-sized enterprises, farmers, entrepreneurs, and young people must all have the opportunity to benefit from the whole of that international trade,” Minister Samarasinghe added.
He figured in a panel that included Qatar State Minister for Foreign Trade Affairs Dr. Ahmed bin Mohammed Al-Sayed, Thailand Vice Minister for Commerce Dr. Kirida Bhaopichitr, Bangladesh Minister for Commerce and Industries Khandakar Abdul Muktadir, Kazakhstan Trade Minister Arman Shakkaliyev, and Timor-Leste Commerce and Industry Minister Filipus Nino Pereira.
Lee in his remarks said: “In a world struggling with unprecedented change and geopolitical fragmentation, connectivity, co-operation, and consensus are essential. That’s precisely what the BRI offers.”
“Rooted in our rich history of cross-cultural collaboration, the BRI is not a map of the past, but a shared blueprint for the future. And Hong Kong is where we realise that future. Where East meets West. Where capital, talent, businesses, and opportunities converge,” he added.
OSL take:
Sri Lanka is seeking to attract greater foreign investment across a broad range of sectors as the country works to strengthen investor confidence, improve ease of doing business and position itself as a competitive destination for international businesses/investors. Speaking at the Belt and Road Summit in Hong Kong, Minister Wasantha Samarasinghe invited investors, businesses and institutions within the Belt and Road Initiative to explore opportunities in Sri Lanka. The Sri Lankan Government has identified renewable energy, logistics, tourism, information technology, advanced manufacturing, agricultural technology, value-added industries and food processing among the sectors offering investment potential. Sri Lanka’s strategic location, expanding infrastructure and access to regional and international markets further strengthen its appeal as global companies seek to diversify supply chains and establish new production and service bases. As the country focuses on innovation, investment facilitation and export-oriented growth, Sri Lanka is increasingly opening business/investment opportunities for foreign businesses to bring capital, technology and expertise into emerging sectors and participate in the country’s broader economic expansion.
| Article Code : | VBS/AT/20260915Z_3 |