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
Several schools in Anuradhapura to be closed from tomorrow for Poson celebrations
-- [3 hours ago]
Pakistani passenger dies in SriLankan flight
-- [3 hours ago]
PM calls on everyone to work together for the future of the children
-- [4 hours ago]
Two suspects arrested for killing the leopard
-- [4 hours ago]
Hitachi-Omron Terminal Solutions establishes capital and business alliance with Sri Lankan tech company Interblocks Limited
-- [6 hours ago]
Suranga Lakmal to Captain Sri Lanka in the 3rd Test match against West Indies
PAYable takes home highest number of awards at SLASSCOM Innovation Summit
Senior immigration officer arrested smuggling gold fined Rs. 3 mn
Three suspects in Matara jewellery store heist remanded, main suspect killed
Sri Lanka to introduce an e-Health card for all

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.