President invites Saudi Arabia to invest in several sectors

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President Gotabaya Rajapaksa informed Saudi Arabian Foreign Minister Faisal bin Farhan Al Saud that he would like to invite Saudi Arabia to make direct investments in several sectors.

The President made these remarks during a meeting held with the Foreign Affairs Minister of Saudi Arabia at the Presidential Secretariat this morning (14).

The President pointed out the opportunities available for foreign investment in the sectors of agriculture, renewable energy generation, technology-based development, and Colombo Port City.

Prince Al Saud was briefed on the impact of the Covid-19 pandemic on the Sri Lankan economy. The President also pointed out the impact of low remittances, the collapse of the tourism industry, the impact of dry weather on hydropower generation and the rising demand for fuel.

The Saudi Foreign Minister said that his country was also paying special attention to renewable energy generation and that they are ready to assist Sri Lanka in this sector.

The President and the Saudi Foreign Minister also discussed further strengthening of bilateral relations in a number of areas.

Saudi Ambassador to Sri Lanka Abdulnaser bin Hussain Al-Harthi, Director General of the Saudi Ministry of Foreign Affairs Abdulrahman Arkan Aldawood, Foreign Minister Prof. G.L. Peiris, Secretary to the President Gamini Senarath and Foreign Secretary Admiral Prof. Jayanath Colombage were also present.

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