Lankapage Logo CP 19 YEARS
Go Home Home Serving the Sri Lankan community globally since 2000
go to LankaPage.com

Leading News from Sri Lanka::

* Vice President of the U.S. OPIC visits Sri Lanka, seeks investment opportunities in ports, infrastructure
Fri, Oct 5, 2018, 05:33 pm SL Time, ColomboPage News Desk, Sri Lanka.

Oct 05, Colombo: Executive Vice President of the Overseas Private Investment Corporation (OPIC) David Bohigian and other U.S. government officials visited Sri Lanka from October 3 to 5.

The trip promoted U.S. investment in the region and strengthened cooperation with regional allies to drive economic growth and stability, the U.S. Embassy in Colombo said.

The delegation met with Minister of Finance and Mass Media Mangala Samaraweera from the Government of Sri Lanka as well as representatives of American businesses active in the Sri Lankan market.

"The United States seeks to build strong, reciprocal, and balanced bilateral trade and investment relationships throughout the Indo-Pacific," said Chargé d'affaires Robert Hilton.

"We work with the Sri Lankan government to ensure that American companies are given the opportunity to compete for government tenders and that tenders are conducted fairly and free from corruption."

He added that the United States is the single largest export market for "Made in Sri Lanka" garments. "We would like to grow U.S. exports to Sri Lanka, from agricultural products to manufactured goods to software and entertainment."

OPIC has a long history of partnering with allies in the region and recently signed Memoranda of Understanding with Japan's Japan Bank for International Cooperation (JBIC) and Nippon Export and Investment Insurance (NEXI), and with Australia's Department of Foreign Affairs and Trade.

"Positioned within reach of one of the world's busiest trade routes, Sri Lanka is a hub of maritime activity in the Indian Ocean and serves a vital role in the global economy," said Bohigian. "Investments backed by the U.S. government provide a financially-sound alternative to state-led solutions that lead nations like Sri Lanka into debt traps. OPIC is committed to supporting projects that promote free and open societies while adhering to strong environmental and labor standards. We look forward to partnering with Sri Lanka and other regional allies to identify opportunities for investment in ports and other infrastructure, which will fuel sustainable economic growth, create jobs, and leave countries better off."

Historically, OPIC has invested $118 million in Sri Lanka and currently has almost $20 million invested across four projects.

OPIC is the U.S. government's development finance institution. As part of his National Security Strategy, President Trump highlighted the need for a modernized approach by the U.S. government to development finance to help grow aspiring partners, promote economic relationships, and increase investment in regions important to American interests.

 

ColomboPage - Recent 10 Stories ::
Cyber attack on foreign embassy and other web sites in Sri Lanka
-- [4 hours ago]
Sri Lanka marks a decade of peace today amid threats
-- [4 hours ago]
Sri Lanka business chamber urges corporate leaders to act as a catalyst to build peace and revive the economy
-- [5 hours ago]
Christell Skin Clinic first skincare provider in Sri Lanka to acquire ISO 9001 certification
-- [7 hours ago]
Human Rights Watch says still no justice for Sri Lanka's victims of war ten years after
Best tribute to fallen war heroes is to ensure no recurrence of any war - Army Commander
Sri Lanka President committed to change social conditions that lead to increase in crimes
Sri Lanka President pardons 762 prisoners on the occasion of Vesak
Sri Lanka's EFL charting a course towards a sustainable logistics industry with voluntary ISO 14064 Certification
Special security arrangements for the devotees during Vesak

Copyright © 2000, 2016 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.