Türkiye’s Penthol Group explores investment opportunities in Sri Lanka
Daily FT: Signalling the growing investor business confidence in Sri Lanka, a high-level delegation from the Türkiye conglomerate Penthol Group, led by the Chairman Faruk Erkoc, was in Colombo to explore investment avenues in the country. The visit initiated by Sri Lanka’s Ambassador to Türkiye is organised by the Ministry of Foreign Affairs, Foreign Employment, and Tourism seeking to enhance investment and strengthen bilateral commercial relations.
During their stay, the delegation engaged in a series of productive meetings with senior Government representatives including Energy Minister Kumara Jayakody and Environment Minister Dr. Dhammika Patabendi. Additionally, focused consultations were held with the Chairman and team of the Board of Investment (BOI), Ceylon Petroleum Corporation (CPC) Chairman, and Export Development Board (EDB) Chairman. The delegation also had sessions with the Colombo Port City.
The discussions centred on key sectors such as energy including renewable energy, petroleum, boat building, shipping, and textiles, with a strong focus on identifying collaborative investment opportunities and enhancing trade ties.
Penthol Group, headquartered in Istanbul, operates globally including in the US, Europe, Middle East and Africa. Chairman Faruk Erkoc was accompanied by Advisory Board Member and Honorary Consul of Sri Lanka in Istanbul Aydin Ozu, and former Turkish Ambassador to Sri Lanka Iskender Okyay.
OSL take:
Türkiye’s Penthol Group is among a host of foreign businesses/investors on the lookout for business/investment opportunities in Sri Lanka. The country’s quick turn around after facing an economic crisis in 2022that shows a resilient economy that is on the growth path have attracted the attention of many foreign businesses/investors. Sri Lanka’s geographical positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with many foreign countries and the country’s target of becoming a regional business hub have added to the overall expansion of business/investment opportunities in the country’s key economic sectors. Given Sri Lanka’s steadily growing economic performance indicators, the expanding business/investment opportunities in the country further indicates a steadily growing business potential as well. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in all key economic sectors in Sri Lanka.
| Article Code : | VBS/AT/20250505/Z_3 |