Sri Lanka’s Bingiriya investment zone opens doors for Japanese investors
The Morning: Sri Lanka’s State Minister for Investment Promotion, Dilum Amunugama, directs officials to expedite phases two and three of the Bingiriya Investment Zone, aiming to attract high-net-worth Japanese investors following President Ranil Wickremsinghe’s visit to Japan.
Amunugama emphasizes providing prompt facilities for incoming projects and highlights the potential for direct and indirect employment opportunities in the area.
Accordingly, hosting five projects with a total investment value of around fifty million US dollars, the Bingiriya Investment Zone is set to enhance infrastructure and foster economic growth.
OSL take:
Sri Lankan authorities are focused on expanding investment opportunities in the country along with the increasing economic activities. The Sri Lankan government has introduced many incentive schemes as well as dedicated investment zones with many duty exemptions to support foreign businesses/investors looking at doing business in the country. Sri Lanka’s investment drive has been further supported by the country’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed with other countries. The growth and business potential in Sri Lanka along with the many promotional campaigns and business roundtables held by Sri Lankan authorities have been recognized by foreign businesses/investors who are now engaging with Sri Lanka’s Board of Investment to explore lucrative opportunities. With Sri Lanka’s strategic positioning in the region, strong trade ties and growth as an emerging business destination in the South Asian region, foreign businesses/investors could look at setting up base in Sri Lanka as part of their regional expansion programmes.
| Article Code : | VBS/AT/20240226/Z_5 |