More than 1,210 delegates at Commonwealth Business Forum
View(s):Sri Lanka is setting the stage for this month’s Commonwealth Business Forum (CBF) aiming to showcase the country’s potential for foreign investment and knowledge based services while opening business match making, partnership and networking avenues for 1210 participants, high level officials said.
The CBF will be held on November 11 to 14 at the Cinnamon Grand Hotel in Colombo
In an interview with the Business Times, CBF Co-Chairman and John Keells Holdings Deputy Chairman Ajit Gunawardena said that 550 Commonwealth and non-Commonwealth business delegates along with 660 local businesspersons have confirmed participation. Online applications have now closed despite overwhelming enthusiasm from other business leaders to attend the forum. President Mahinda Rajapaksa will inaugurate the CBF and he will chair the roundtable meeting with 45
Ajit Gunawardena
business delegates selected by the council after the final session of the forum, he disclosed. This will provide an opportunity for them to interact with the President who will take up the chairmanship of Commonwealth for the next two years, he added.
CBF activities are being organized in accordance with Commonwealth Business Council guidelines with strict checks and balances, he revealed.
Business delegates of 24 non commonwealth countries and 53 commonwealth countries will participate…
in the upcoming forum, he said adding that a 104-member British delegation is the largest among participating countries. India is the second largest with 83 members and China is third with 35. Canada and USA will send 21 and 14-member strong delegations, respectively, he disclosed. The Board of investment (BOI) will maintain a mini-BOI one-stop shop at Cinnamon Grand Hotel to provide investment facilitation to these visiting foreign business delegates during the three days.
The centre will have staff conversant with multiple languages to assist investors from different nationalities.
It will also facilitate one-to one business meetings between project holders and the potential investors.
Mr. Gunawardena said that most of the business delegates expressed keenness in establishing partnerships and exploring investment opportunities in key sectors such as ICT, financial services, tourism, infrastructure, agriculture, manufacturing and the environment. Sri Lankan investors will get an opportunity to make their investment and start joint ventures in commonwealth countries especially in the African region. These countries have business and investment opportunities in construction field and renewable energy sector, he added.
Responding to questions raised on expenditure for the CBF, he noted that the Commonwealth Business Council along with sponsors and partners will bear the cost of the forum and related activities.
Sri Lanka is only the host country of the forum and it derives immense benefits from it, he said adding that the country would be able to attract US$2 billion Foreign Direct Investment while opening employment avenues for Sri Lankan professionals in the service sector in commonwealth countries especially in the African region.
Speaking to the Business Times, Country Director of CBF Nilrusha Pieris said that this is the first time that 10 heads of states and two vice presidents are participating in the CBF and it is a great achievement for Sri Lanka.
Nilrusha Pieris
He noted that this will be a great opportunity not only for Sri Lankan Business Community but also for Commonwealth and non-Commonwealth business delegates to establish strong partnerships with each other and to meet with potential investors and knowledge partners.
Mr. Pieris said that all the delegates will get an opportunity to view ‘Reflections of Sri Lanka’ exhibition to be held from 13-17 November in a newly-constructed exhibition area in Battaramulla. Over 100O local and foreign exhibitors will display their products at the exposition and it will also attract delegates, including business delegates from countries like India, China, Canada, UAE, UK, Iran, Philippines, Egypt, Pakistan, and Singapore, he added.
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