November 23, 2019
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    Sri Lanka Business and Investment Forum at Gujarat

    August 20, 2019

    The Board of Investment of Sri Lanka recently held a Business and Investment Forum at the Gujarat Chamber of Commerce & Industry (GCCI) in Ahmedabad, targeting the Chamber’s membership. his Forum was supported by the Sri Lankan High Commission in New Delhi and the Sri Lanka Consulate General in Mumbai. Malik Samarawickrama Minister of Development Strategies and International Trade led a Business delegation comprising Ravi Dadlani, Managing Director CEAT Kelani Holdings, Vivek Mehata, CEO MAS Brands India, Sanjay Jain, Executive Director & COO, Piramal Glass Ceylon PLC and Shantha Bandara, COO, Sunshine Holdings.

    Senior officials present included Austin Fernando, Sri Lanka High Commissioner in India, Mangala Yapa, Chairman and others from the BOI.Over 100 leading Indian businessmen from Gujarat representing diverse sectors participated at the Forum. Gujarat, on the Western Coast of India is of considerable importance to Sri Lanka as India’s fifth largest state economy.President, GCCI Durgash V Buch, said that Gujarat and Sri Lanka can be partners in promoting Agro-processing Industries, textile, petrochemicals, spices and tea.
    He said that of GCCI’s total member strength of 6,000, at least 1,000 members deal with Sri Lanka on a regular basis in sectors including refractories, pharmaceuticals, apparel, plastic packaging, starch, petroleum and petro products, tea and other Agro-products. “Sri Lanka also has an FTA with Singapore and Singapore in return has FTAs across the Globe with major countries like the USA, Turkey, Japan and China to name a few, which I believe our Gujarati entrepreneurs will take into consideration while investing in Sri Lanka”.

    At the outset Austin Fernando, Sri Lanka High Commissioner in New Delhi who initiated this Forum mentioned that value addition is a part of economic development that can help both countries. He elaborated on Brandix, a Sri Lankan success story based in Vishakapatnam, which has provided 17,000 job opportunities which includes 12,000 Indian female workers.n Delivering the Keynote address, Malik Samarawickrema focused on Sri Lanka’s promise as an investment destination, and invited Indian investors to Sri Lanka, in order to enjoy it’s geographical advantages, port connectivity and efficiency, preferential tariff access to large markets (EU market in particular), highly trainable human resource pool and other benefits.
    “We are keen to promote manufacturing investment in order to provide employment for our people”.Mangala Yapa, Chairman BOI made a Presentation on “Investment Opportunities in Sri Lanka” covering reasons for Investing in Sri Lanka and Growth Sectors and Investment Opportunities. During the interaction that followed, members of GCCI expressed keen interest in Sri Lanka’s investment proposition, while commending Government policies that actively encourage private sector led growth.

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