Japan looks at SME business opportunities in Sri Lanka

Nov 02, 2016 (LBO) – Representatives from the World Business Society of Tokyo Small and Medium Enterprise Consultant Association (WBS) are currently visiting Sri Lanka to evaluate investment opportunities, the Board of Investment of Sri Lanka (BOI) said.

The visiting delegation consisted of representatives of 19 Japanese enterprises who will act as consultants. They will disseminate information on the investment potential in Sri Lanka to Japanese SMEs, the BOI said in a statement.

“One factor which interested the delegation was the fact that Sri Lanka’s economy had maintained high levels of economic growth as a result of the country enjoying political stability and increased security since the end of the conflict in 2009.”

“In addition to this the Japanese delegation expressed an interest in Sri Lanka since the country is now a middle income nation by World Bank classification and is committed to attracting Foreign Direct Investment.”

Other factors which are of interest to the Japanese delegation is the healthy service sector and the commitment on the part of the authorities to stimulate higher value production while taking into consideration the lessons learned from other Asian nations.

Japan is already a major partner of Sri Lanka, having participated significantly in developing the country’s airport, railways, power supply, water and sewerage sectors.

Japan is also interested in Sri Lanka’s knowledge industry and examining option for investment.

A central point of interest to Japanese enterprises is Sri Lanka’s geo-political importance, notably the close proximity to the Indian subcontinent, and potential of serving as a base to emerging trade between Africa and south East Asia.

The delegation will spend approximately one week in Sri Lanka on their fact finding mission.