One of the giants in the motor vehicle industry, Japan’s Suzuki
Motors is keen on investing in Sri Lanka and one of its top
shareholders, Isomi Suzuki has arrived in the island to explore massive
investment prospects in Sri Lanka, according to reliable sources.
“Isomi Suzuki will be visiting Hambantota to assess for
himself the viability of investing in Hambantota. Japan’s Suzuki Motors
have taken stock of the fact that business activity is picking up fast
in Hambantota and have expressed their keenness in putting up shop in
Hambantota,” an official connected with organising the visit said.
These sources said that prospects of more foreign
investments pouring into Sri Lanka look bright with over 35 business-law
magnates from India, Japan, Australia, Hong Kong, Korea, Indonesia and
the Maldives expected to visit Hambantota and explore first hand
potential of investing in Sri Lanka on the sidelines of a Biz-Law
conference held this week.
“Besides Suzuki Motors, there are foreign garment industry
officials also interested in investing in Sri Lanka,” said these sources
who predicted that Sri Lanka’s economy would receive a major boost
which is already picking up.
Business climate
They are desirous of looking first hand and apprising
themselves of the business climate in Sri Lanka while participating in
the Law Asia Business Law Conference which commenced yesterday at
Colombo’s Hilton Hotel.
“These law magnates, who will be accompanied by high profile
business tycoons, will be wanting to satisfy themselves on the climatic
conditions, the resources, finance policies in respect whether they can
take their profits out of the country,” an Executive Member of the Law
Association of the Asia Pacific Region, Sunil Abeyratne told The Bottom
Line.
He said so at a press confab on Tuesday held at the BASL
Committee Room of the Organisation of Professional Associations of Sri
Lanka at Stanley Wijesundera Mawatha in connection with the Law Asia
Business Law Conference which commenced yesterday at Colombo’s Hilton
Hotel.
The Law Asia Business Law Conference is being attended by
delegates from 13 regional countries and Sri Lanka is striving to make
the most of it to attract foreign investments. It is held every two
years and Sri Lanka was given the honour of hosting it for the first
time.
The investors will be taken to Hambantota which is now been
highly spoken of with the development work there from the port to the
world’s largest cricket ground as Sri Lanka’s blooming economic hub.
“We are confident that the forum would enable foreign
investors to satisfy themselves as to the conducive investment climate
and come in a big way,” said Abeyratne who was confident that there
would be a large scale attraction considering the fact that foreign
investors are allowed to take a percentage of their earnings out of the
country.
Posted on Thursday, March 17, 2011 @ 07:47:53 LKT
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