Sri Lanka’s Export Development Board explores business opportunities in Mozambique
The Morning: The Sri Lanka High Commission in South Africa, in collaboration with the Sri Lanka Export Development Board (EDB) and the Mozambique Chamber of Commerce and Industry, concluded a successful virtual meeting on 10 May 2022, regarding construction, engineering services, and renewable energy project opportunities available in Mozambique for Sri Lankan companies.
Mozambique Chamber of Commerce and Industry President Alvaro Massingue, Chamber Secretary General Teresa Muenda, and Hipolito Hamela represented business and industry in Mozambique. High Commissioner (Prof.) Gamini Gunawardane welcomed the participants and outlined the available opportunities in the low cost housing, commercial and governmental buildings, infrastructure, and energy sectors in Mozambique.
He further explained the vast expertise and experience gained in the last few decades by the Sri Lankan engineering firms locally and internationally, and invited the two sides to exchange information, inquiries, and concerns with a view to organising subsequent business to business (B2B) meetings and visits to Mozambique by Sri Lankan firms.
Major Constructors’ Association of Sri Lanka President and Sunken Constructions (Pvt.) Ltd. Managing Director Eng. Ranjith Goonatilleke, Sierra Holdings Group Director Priyantha Perera, and Small Hydropower Association President Thusitha Peiris addressed the event representing the twenty nine Sri Lankan companies that participated in this event. Sustainable Energy Authority Chairman Ranjith Sepala presented the progress achieved by Sri Lanka in the sustainable energy sector since 1997.
Furthermore they presented their expertise and experience in Sri Lanka and other countries and regions (such as Kenya, Uganda, Malawi, Zambia, Rwanda, the Middle East, and Pakistan) in construction, mechanical and structural engineering, design, architecture, project management, quantity surveying, and sustainable energy projects.
Representatives of the Mozambique Chamber of Commerce and Industry answered questions raised by the Sri Lankan firms regarding projections of energy needs, funding sources (World Bank and African Development Bank), land lease regulations, double taxation and investment recoupment agreements, and the assistance given for foreign companies to operate in Mozambique.
The meeting concluded with the Sri Lankan companies agreeing to submit detailed questions and concerns with the Mozambique Chamber of Commerce agreeing to respond to such questions and also locating specific opportunities and organisations for Sri Lankan companies to pursue further. Participants also expressed a desire to visit Mozambique around July, 2022 for direct meetings with the Mozambique Chamber of Commerce, firms, and relevant government institutions of Mozambique. EDB and the Sri Lankan High Commission agreed to actively co-ordinate and assist these efforts.
Prof. Gunawardane thanked EDB Director Indumini Kodikara and EDB Assistant Director Kumudini Irugalbandara, and Second Secretary (Commerce) Sanjeewa Bandara. Further he deeply appreciated the support given by Honorary Consul for Mozambique Vali Hassam for organising this event and his contribution to build up the bilateral trade relationship between the two countries.
Sri Lanka’s exports industry has shown its growth and business potential since the period of the global pandemic. The exports industry continues on its growth path despite the ongoing economic difficulties in Sri Lanka. The many trade agreements and trade concessions enjoyed by the country have also helped boost Sri Lanka’s exports industry. Sri Lanka is also working towards positioning the country as a growing business destination in the South Asian region. With Sri Lanka’s export authorities engaged in introducing incentives to businesses in the exports industry while also exploring new foreign markets and promoting local exports in those markets in search of new markets. Looking at the positive developments in Sri Lanka’s exports industry, foreign businesses/investors could find lucrative opportunities in the industry. They could also look at forming partnerships or joint ventures with local businesses to expand the exports business.
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