BOI promotes Sri Lanka at Tel Aviv Business Forum

Friday, 18 July 2014 00:00 - - {{hitsCtrl.values.hits}}

The Board of Investment of Sri Lanka recently engaged in promotion of investment at an important event held in Tel Aviv, Israel. BOI Chairman Dr. Lakshman Jayaweera briefed the business community of Israel on the potential Sri Lanka has to offer to Israeli investors. His presentation covered Sri Lanka’s strategic position, business friendly climate and attractive regime of incentives offered to investors. He was assisted by Duminda Premaratne, Deputy Director (Investment Promotion).

The Israeli private sector representatives present at the Forum included entrepreneurs engaged in a wide range of sectors such as tourism, high-tech industries, water, energy, medical equipment manufacturing, apparel, education, manpower services, agriculture, dairies, fisheries, gem and jewellery, hospitals, pharmaceutical, construction and trading. Many of those present expressed interest in the opportunities available in Sri Lanka and the incentives that Sri Lanka currently offers investors. Currently there are five Israeli companies operating in Sri Lanka under BOI who are engaged mainly in Aquaculture, Agriculture, Jewellery and Fabricated metal products. The Israeli side at the Forum expressed interest in investing in Sri Lanka and agreed to send an Israeli business delegation to visit the country in October 2014, to explore opportunities for trade and investment. This mission to Israel was led by Deputy Minister of External Affairs Neomal Perera who was accompanied by Chairman of the BOI Dr. Lakshman Jayaweera, Deputy Governor of the Central Bank Dr. Nandalal Weerasinghe, representatives of the Export Development Board and 20 business leaders from Sri Lanka. The meeting was organised and facilitated by Ambassador of Sri Lanka to Israel Sarath Wijesinghe. The delegation had the opportunity to meet with many leading Israeli entrepreneurs and explore possibilities of enhancing economic cooperation with Israel in the field of trade and tourism and investment. One of the main strength of Israel is the country’s close connection to many other countries especially those in North America and Western Europe. Many Israeli entrepreneurs have business interests in other countries hence Israel is an important country to engage for promotion of investment. Furthermore the Israeli side was keen to show Israel advances in wide range of sectors and a visit was organised among others to a High Technology farm near Tel Aviv where the latest methods of farming and irrigation were used. Among the interest generated by this visit was a proposal to establish a large scale pharmaceutical manufacturing plant in Hambantota.