The Sri Lankan business community is urging immediate long and large-scale Japanese investment in the country post-war, particularly with the integration of the economies of the north and east with the rest of the country.
Japanese businessmen at the event. Pic by Saman Kariyawasam. |
At the 15th joint meeting of the Sri Lanka - Japan and Japan - Sri Lanka Business Cooperation Committees in Colombo this week, Minister of Public Administration & Home Affairs and the Deputy Minister of Finance and Planning Sarath Amunugama said Japanese companies have been key to infrastructure development in the past and can now contribute to accelerating economic growth in the country. He added that Sri Lanka is also located next to the burgeoning Indian market.
President of the Sri Lanka - Japan Business Cooperation Committee Daya Weththasinghe said Japanese investment in Sri Lanka has not reached expectations due to past events but in the post-war scenario, Sri Lanka has new opportunities in the areas of trade, manufacturing and services. He specifically spoke of the establishment of a Japanese bank in Sri Lanka, a direct airline route between Sri Lanka and Japan and setting up a Japanese broking office in Sri Lanka.
Japanese Ambassador to Sri Lanka Kunio Takahashi said the Japanese government has relaxed its travel advisory for the Eastern province and some parts of the Northern province which he hopes will increase Japanese investment in the future. Mr. Takahashi said there has been an improving trend in the economy following the end of the conflict but added that the government should create stable macroeconomic conditions which would allow industries to thrive.
Chairman of the Japan - Sri Lanka Business Cooperation Committee Sumitaka Fujita said Sri Lanka can become an important manufacturing base in the region. Mr. Fujita said Sri Lanka, having abundant natural surroundings and great economic potential, can benefit from Japanese manufacturing technology.
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