Japan’s top multinational conglomerate Marubeni Corporation is returning to Sri Lanka, according to the Ministry of Industry and Commerce.
Minister Rishard Bathiudeen announced this following a meeting with a Marubeni team on January 19 in Colombo.
The team was led by Wataru Yoshida, Marubeni’s Tokyo-based Corporate Officer and Senior Operating Officer. Also taking part in the mission with three other Marubeni members was Shinya Watanabe, Chariman and Managing Director of Marubeni India.
Marubeni, which was already active in Sri Lanka for 25 years, closed its operations on May 1, 2008 citing unfavourable economic conditions. Marubeni’s return is also expected to boost Sri Lanka’s FDI inflows further, the Ministry said.
Mr Yoshida was quoted as saying that the group wants to invest in selected countries, including Sri Lanka and plans to recommence operations in Sri Lanka. “In fact, we want to open our Colombo office as soon as possible,” he added.
Shinya Watanabe, Chairman and Managing Director of Marubeni India said Marubeni India is keen on power projects in Sri Lanka.