Govt. to carry out 3-day investment promotion mission in Germany next week

Thursday, 20 September 2018 00:49 - - {{hitsCtrl.values.hits}}

Development Strategies and International Trade Minister Malik Samarawickrama –

Pic by Upul Abayasekara

By Charumini de Silva

Development Strategies and International Trade Minister Malik Samarawickrama said the Government was undertaking a three-day investment promotion mission to Germany next week with a view to attract top German companies to set up manufacturing plants in Sri Lanka.

Addressing the fifth edition of the ‘Top German Brands in Sri Lanka’, organised by the Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka), the Minister said they wanted to attract more manufacturing firms to the areas of automobile parts and electronics for them to be made in Sri Lanka by Germany for regional and global markets.

Samarawickrama said the three-day investor promotion was organised in collaboration with AHK Sri Lanka to be conducted in three German cities lined up with an investor forum, roundtable discussions and one-on-one meetings.

As the Government reorients Sri Lanka’s economic trends, led by the private sector, with outward-oriented policies, the Minister asserted that they looked forward to close engagement with top German brands that would join Sri Lanka in its journey to the next level of growth.

“The world has accepted German brands as trendsetters whether they be in quality, safety or technology. They have contributed significantly to the advancement of technology and innovation around the world. We want to attract them to Sri Lanka and have them put forward with local companies to elevate our entire economy,” he added.

Acknowledging that Germany has focused on enacting strong economic reforms in a timely manner, Samarawickrama said these resilient reforms had not only helped them but the entire European Union to weather crisis situations.

“The reforms laid a strong foundation for a strong economy and now Germany is anchoring the economic recovery for the whole of the European Union. Our Government is also focused on economic reforms that are needed to place Sri Lanka on a firm footing for sustainable and rapid growth,” he stated.

The Minister said the initiatives taken by the Government would not see results in a month or two, but would provide a solid foundation for Sri Lanka in the years to come.

More than 100 German brands were represented during the re-launch of the fifth edition of the Top German Brands in Sri Lanka.