Sri Lanka’s BOI and French envoy discuss ways to boost FDI investor facilitation
Ambassador of France to Sri Lanka, Eric Lavertu and EGEA Economic Counsellor Jean Alexandre have reportedly met with Sri Lanka’s Board of Investment (BOI) Chairman Eng. Raja Edirisuriya and Director General Renuka Weerakone to discuss measures to increase more French investments to Sri Lanka.
According to reports, the meeting had also focused on the facilitation provided for existing investors to encourage them to re-invest and expand their operations in Sri Lanka.
BOI Director (Investment Promotion) Nilupul De Silva had also attended the meeting.
The French Ambassador had stated during the discussion that the EU-Sri Lanka Investor Dialogue that was held on 31 January 2022, chaired by Sri Lanka’s Minister of Finance Basil Rajapaksa was an effective facilitation forum for existing investors from the EU and had thanked the Chairman and the BOI team for a well-coordinated event and expressed his appreciation.
The BOI Chairman had briefed the Ambassador regarding the Pharmaceutical Zone that is currently being developed in Hambantota, as well as the structured projects within the Colombo Port City. He had also invited French investors to consider investing in the Pharmaceutical Zone and Colombo Port City, especially in the sectors of tourism and hospitality.
While the BOI Chairman had stated that the Board will continue to work closely with the French Embassy in Sri Lanka to attract more foreign direct investments (FDIs) from France, the Ambassador had assured their fullest co-operation in attracting more FDIs to Sri Lanka.
OSL take:
Sri Lanka focused on wooing foreign investors to the country given its economic expansion and progress achieved as a growing business destination in the region. The country also enjoys many trade agreements and concessions with foreign countries. However, the country’s ongoing development programme has opened up business/investment opportunities in all key economic sectors. Sri Lanka with the prominence received through its geographical positioning in the Indian Ocean and the ease of doing business environment have shown an increase in the country’s business potential. Given the EU GSP Plus facility enjoyed by the country, Sri Lanka poses many business opportunities for French businesses/investors, while they could also look at forming partnerships or joint ventures with local businesses.
| Article Code : | VBS/AT/07032022/Z_2 |