BOI conducts high profile investment seminars in Japan
Wednesday, 29 October 2014 00:02
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The Board of Investments of Sri Lanka, in close coordination with the Bank of Tokyo-Mitsubishi UFJ and the Embassy of Sri Lanka in Japan, conducted two high profile investment forums in Osaka and in Tokyo on the third week of October.
The Chief Guest at the two forums was Minister of Investment Promotion Lakshman Yapa Abeywardene, and a delegation from the Board of Investment also delivered addresses and presentations. The opening remarks at both the forums in Osaka and in Tokyo were delivered by Deputy Chief of Mission Dr. Saj Mendis since the Ambassador of Sri Lanka to Japan, Admiral Wasantha Karannagoda, was out of the country on an official engagement. The Chairman of Board of Investments, Dr. Lakshman Jayaweera, also enumerated the key factors for corporate and industry leaders of Japan to consider Sri Lanka as a favoured investment destination.
Abeywardene, in his address as the Chief Guest, highlighted the rapid economic advancement and development of Sri Lanka since 2009; the concept of developing Hubs such as aviation, shipping, finance, services, knowledge, tourism, energy and outsourcing in Sri Lanka; the utility of being engaged with Sri Lanka for Japanese corporates and industries at this crucial juncture and the strategic geographic location as well as the well-developed infrastructure of the country, among other topics.
He further underlined that the Board of Investments is a one stop shop, which would facilitate, assist and cooperate with any foreign investor and would navigate the foreign investor to materialise the respective investment in Sri Lanka. The minister urged the corporates and industrialists of Japan to take the advantage of Sri Lanka since this is the most opportune and propitious occasion.
Just two weeks before the historic visit of Prime Minister of Japan to Sri Lanka in September, the Board of Investments and the Bank of Tokyo-Mitsubishi UFJ inked an MOU. The Bank of Tokyo-Mitsubishi UFJ is the largest bank or money centre bank in Japan and is among the largest ten banks in the world, in terms of assets.
The asset base of the said bank is in the vicinity of USD 1.6 trillion, which is greater than that of the GDP of most of the emerging and developed economies in the world. The objectives of the MoU are to promote foreign direct investments to Sri Lanka, explore new business opportunities, promote international joint ventures, and engage in developing of infrastructure projects and other commercial and economic activity between the two countries.
The MOU, once executed and implemented, could significantly transform the economic, commercial, trade and investment landscape of Sri Lanka.
The two high profile investment seminars were highly productive, constructive and well-focused since the speakers could objectively emphasise and elucidate the tangible benefits of committing investments as well as being economically and commercially engaged with Sri Lanka to corporates and industries of Japan.
The presentations were also delivered by Sagawa Global Holdings Japan Co. Ltd. and Tosslec Co. Ltd. who have already established a strong presence in Sri Lanka. The investment seminar in Osaka was attended by well over 70 select investors and the Seminar in Tokyo was attended by well over 150 participants, who were primarily clients of Bank of Tokyo-Mitsubishi UFJ.
After the formal presentations at the two high profile forums, the senior delegation of the Board of Investment of Sri Lanka conducted one-to-one discussions with a number of interested and potential investors and corporate captains of Japan.
