“Sri Lanka has great potential to attract Japanese investors” – Japanese Ambassador

“Sri Lanka has great potential to attract Japanese investors who are interested in investing in Sri Lanka,” said Ambassador for Japan Nobuhito Hobo during his visit to the Chairman of the Ceylon Chamber of Commerce.

During the discussion between Ambassador Hobo with Ceylon Chamber of Commerce Chairman Susantha Ratnayake, it was also stated that Japanese travel agents, who recently concluded a visit to Sri Lanka, were impressed by the peaceful atmosphere prevalent in the country and the ability of tourist and locals to freely travel to anywhere in the country.

The Japanese Amba-ssador said that it sends a positive sign to the Japanese tourists to visit Sri Lanka in the future.

The number of Japanese tourists to Sri Lanka used to be one of the highest prior to the war and Sri Lanka can look forward to increased tourist arrivals from Japan in the future.

Speaking about foreign direct investment, Ambassador Hobo emphasised the importance of having clear policies to attract Japanese investors to Sri Lanka.

It was further mentioned that Japanese manufacturers are at present re-locating their manufacturing plants and Sri Lanka is one of the destinations they are looking at to setup their factories.

Some of the key factors that have contributed to making Sri Lanka attractive for the Japanese manufacturers are the geographical position of the country, availability of skilled labour and a wealth of natural resources in Sri Lanka.

Commenting on developing the North and East, Ambassador Hobo indicated that in addition to developing ports and infrastructure, sea cucumber and sea weed cultivation are potential areas to promote in these areas.

Ambassador Hobo also mentioned that Japanese manufacturers belonging to a variety of sectors, securities and banking businesses are also on the lookout for expanding their businesses out of Japan and Sri Lanka should attract them.  

He met the Committee Members of the Sri Lanka – Japan Business Co-operation Committee of the Ceylon Chamber of Commerce and discussed arrangements planned to celebrate 60 years of diplomatic relations between Sri Lanka and Japan during 2012.

The Sri Lanka – Japan Business Co-operation Committee (SLJBCC) was set up in 1979 by the Ceylon Chamber of Commerce following a MOU with the Japan – Sri Lanka Business Co-operation Committee (JSLBCC) set up by the Japan Chamber of Commerce and Industry (JCCI) and the Tokyo Chamber of Commerce and Industry.

The SLJBCC is the first bi-lateral business council to be set up by the Ceylon Chamber of Commerce and its membership to date is 76. Since the inauguration of the SLJBCC, 16 joint meetings have been held in Sri Lanka and Japan (Sri Lanka eight and Japan eight), the most recent in Tokyo, Japan in June, 2011 which was followed by “Sri Lanka Trade Promotion Exhibition” at which 18 Sri Lankan delegates participated.

The 17th Joint Committee Meeting is scheduled to be held in November/December 2012 in Sri Lanka to coincide with 60 years of Diplomatic Relations between Sri Lanka and Japan.