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Sat, 02 August 2014 07:28:34
Sri Lanka seen as option in Japanese factory shift
18 Nov, 2011 18:09:10
Nov 18, 2011 (LBO) - Sri Lanka is one of the destinations being considered by Japanese industries looking to relocate their manufacturing plants, its envoy has told a business chamber.
Japanese investors are attracted by the island's geographical position, skilled labour and natural resources, Japanese Ambassador Nobuhito Hobo said.

But Hobo told a meeting with the Ceylon Chamber of Commerce it was important to have clear policies to attract Japanese investors, a statement quoted him as saying.

Japanese manufacturers are seeking to relocate their manufacturing plants abroad given a stronger yen and a shrinking home market owing to an aging population.

Hobo also said in his meeting with the chairman of the Ceylon Chamber of Commerce, Susantha Ratnayake, that the end of the island's 30-year ethnic war could help attract Japanese tourists.

A group of Japanese travel agents recently concluded a visit to Sri Lanka.

"The number of Japanese tourists to Sri Lanka used to be one of the highest prior to the war and Sri Lanka can look forward to increased tourist arrivals from Japan in the future," the statement said.

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READER COMMENT(S)
3. dismanirie Nov 21
And what will the factories run on? Hot air is the only surplus commodity available here.
2. CarBoy Nov 19
This was all the way there. But lazy Sri Lanka authorities were never showing interests even after the war ended. At least they should be wise enough to capitalize the situation in Thailand and bring few manufacturers here now. Instead, they are bringing expropriation bill and investors shy away. Miracle of Asia???????
1. akalaanka Nov 19
Not with a appropriation bill. if not ideal time to move thai investments to Sl. shame we didn't have guts in treasury.