Lankapage Logo Recent Top Stories
CP 14 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Sri Lanka woos Malaysian investors for infrastructure development
Mon, Apr 21, 2014, 04:24 pm SL Time, ColomboPage News Desk, Sri Lanka.

Apr 21, Colombo: Sri Lanka in an effort to attract Foreign Direct Investment (FDI) into the country after the end of the war is looking to woo Malaysian investors, especially in infrastructure development and the rapidly growing hospitality industry.

Malaysia's High Commissioner to Sri Lanka Azmi Zainuddin has noted that Sri Lanka offers immense opportunities for Malaysian investors in infrastructure development and in hospitality industry.

"Malaysian companies have always been here, even during the war, especially in the telecommunications and infrastructure segment. Now there are more opportunities available and we should take advantage of it," Zainuddin has told Bernama, the national news agency of Malaysia.

The envoy has highlighted that there are construction of several new hotels in Colombo by big players in the industry but the leisure industry in Jaffna and in the Eastern Province is yet to be fully developed and offers immense opportunities.

"Malaysia should capitalize on its good bilateral relationship with Sri Lanka to have a bigger presence in the country," he said.

A Malaysian delegation recently held discussions with Sri Lanka's investment promotion agency Board of Investment (BOI) to develop and promote Malaysian Foreign Direct Investments to Sri Lanka.

The projects to be promoted are in variety of sectors including tourism, agriculture including Fish Processing, Development of Industrial and IT Parks and Healthcare.

Speaking of tourism, the envoy has described the people-to-people ties are important. Tourist arrivals from Sri Lanka to Malaysia reached 64,051 last year while this year 70,000 tourists from Sri Lanka are expected.

Malaysia is one of the leading investors in Sri Lanka, whose investments have resulted in considerable employment opportunities and revenue to the country, especially in the telecommunication sector. Malaysia's private sector investment in Sri Lanka to date has reportedly topped US$1.5 billion.

According to the Department of Commerce of Sri Lanka, bilateral trade in 2013 between both countries stood at US$ 577.66 million, with exports from Sri Lanka at US$ 44.92 million and imports at US$ 532.74 million.

ColomboPage - Recent 10 Stories
President Obama intends to nominate Atul Keshap as Ambassador to Sri Lanka and Maldives
-- [39 minutes ago]
Suspect attacked Sri Lankan President's brother surrenders
-- [3 hours ago]
Sri Lanka Freedom Party MPs attend rally in Ratnapura despite party directive to stay away
-- [3 hours ago]
Sri Lanka to participate in the universal exposition World Expo 2015
-- [3 hours ago]
Sri Lankan court orders probe into former Defense Secretary's bank accounts
-- [4 hours ago]
Sri Lankan minster writes to President and PM asking not to nominate the 'corrupted' for elections
-- [4 hours ago]
Atmosphere and receptivity during third round Indo-Lanka fishermen talks better - spokesperson
-- [5 hours ago]
Indian Navy squadron to arrive in Sri Lanka for training exercise
-- [5 hours ago]
Police unable to deliver court order to former President's brother Basil Rajapaksa
-- [6 hours ago]
Sri Lankan President's brother critically injured in axe attack - report
-- [6 hours ago]

Copyright © 2000, 2014 by LankaPage.com (LLC) :
The news and other contents on ColomboPage are copyrighted property of LankaPage.com, LLC. Any unauthorized use of any information on ColomboPage may constitute a violation of copyright laws. You need written permission to reproduce, republish, post, transmit, broadcast or distribute, material from this site from LankaPage.com, LLC. However, news organizations or broadcasters in Sri Lanka may republish the news items in ColomboPage with proper acknowledgment to ColomboPage.