US companies have invested $234 million in Sri Lanka
Trade and investment are vital for a country’s economic recovery, and in this context, US companies have made an annual direct investment of US$ 234 million in Sri Lanka, according to the US Ambassador to Sri Lanka, Julie Chung.
Attending the 10th year anniversary celebrations of Sysco Labs, a US- based global leader in food service with an operation in Sri Lanka, the ambassador made these remarks.
Ms. Chung said, “Sysco Labs has made more than $76 billion revenue last year and feeds people all over the world. The innovative model of the business and the dedication of the staff tell us that it was a purpose- driven business. As we are looking for more years of success and partnership, the US supports many businesses like the Sysco Labs.” As of last year’s figures, US companies have made an annual direct investment of US$ 234 million in Sri Lanka, she added.
She also stressed, “Don’t count Sri Lanka out. We believe in Sri Lanka and the people of Sri Lanka. We are here for the long run to help and support any purpose driven business.”
Sysco Houston Texas, Executive Vice President and Chief Information and Digital Officer, Tom Peck during the event at Uga Residence held last week emphasised the pivotal role of technology in Sysco’s present and future endeavours, emphasising the company’s vast scale. “With 72,000 employees and over 725,000 customer locations globally, Sysco operates at a global scale which requires vast technology inputs to success. As the global market leader, Sysco is driven by innovation and harnessing new technology, and that’s where the team in Sri Lanka gives us a competitive edge.”
He also highlighted Sysco Labs as a critical component of its growth strategy, serving as a key tech enabler to drive Sysco’s global progress and enhance operational efficiency across its extensive network. “By leveraging cutting-edge technology, Sysco aims to continue providing exceptional service to its customers while driving sustainable growth and remaining at the forefront of the industry’s evolution.”
Sysco Labs, Managing Director, Rasika Karunatilake stated, “Our journey from a team of 100 to nearly 1000 employees is a testament to our relentless pursuit of innovation and excellence. Sysco Labs has evolved from a primarily product company to an organisation that delivers a diverse array of technology solutions across 10 domains at an enterprise scale. Through our team’s ingenuity, relentless dedication and expertise, we are transforming the global food service industry landscape.”
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