Omani Investor delegation concludes productive visit to Sri Lanka with signing of MoU

The Sri Lankan Embassy in the Sultanate of Oman recently organised a successful visit of an investor delegation to Sri Lanka from Oman’s Shumookh International LLC, which is an investment arm of Madayn – the Public Establishment for Industrial Estates of the Sultanate of Oman – under the investment bubble concept from 20-26 July. 

The delegation led by Shumookh International Executive Director Abdullah Al Bulushi called on President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa. The delegation also held a series of constructive discussions with Finance Minister Basil Rajapaksa, State Minister of Finance, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal, State Minister of Solar, Wind and Hydro Power Generation Projects Development Duminda Dissanayake, Governor of the Central Bank Prof. W.D. Lakshman, as well as with various Government agencies and high-level Government officials, on the specific investment opportunities available in Sri Lanka. The delegation also paid field visits to potential investment sites in Colombo and Hambantota. 

Shumookh International LLC signed an MOU with the Urban Development Authority (UDA) of Sri Lanka, expressing their interest in investing in selected projects. The Omani delegation has also expressed interest in investing in the Sri Lankan Government Securities.

Shumookh Investment Services of Madayn has already submitted an investment proposal to the Government of Sri Lanka for the development of a 100 MW Solar Park in Siyabalanduwa. 

Ambassador of Sri Lanka to the Sultanate of Oman Ameer Ajwad earlier this year met with Chief Executive Officer of the Public Establishment for Industrial Estates – Madayn as well as the Chairman of Shumookh Investment and Services of the Sultanate of Oman Sheikh Hilal Hamad Al Hassani and briefed him on the unfolding investment opportunities in Sri Lanka. Ambassador Ajwad had also organised an introductory meeting between State Minister Cabraal together with the Central Bank delegation and the Madayn delegation headed by CEO Sheikh Hilal Al Hassani, during the former’s visit to Oman in April this year.

The Embassy of Sri Lanka in Oman jointly with the Oman Embassy in Sri Lanka also organised a visit of delegation from Shumookh Investment and Services SAOC comprising Chief Executive Officer Eng. Musallam Juma Al Hadaifi, Executive Director Abdullah Al Bulushi, and Shumookh Legal Counsel Robin Mande, headed by Ambassador of the Sultanate of Oman to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi in June 2021, under the investment bubble concept. 

Ambassador Ajwad stated that the series of recent visits undertaken by the investor delegation from a high-profiled Omani establishment, despite COVID pandemic travel restrictions, have demonstrated their keen interest in deepening economic engagement with Sri Lanka, in particular for investments in high-end commercial properties, selected infrastructure projects and securities.