Rishad tells new envoys position Sri Lanka ‘beyond open for business’

A now peaceful Sri Lanka is beyond “open for business” – in fact, it is open to international business and investment partnerships that includes large scale multinational corporate investors. Sri Lanka is also contemplating an exclusive manufacturing zone in Kurunegala for pharmaceutical industry investors, says Rishad Bathiudeen, Minister of Industry and Commerce.

The Minister was speaking to the new heads of mission designated to Sri Lanka missions abroad on 1 June at the Auditorium of the Ministry of Industry and Commerce, Colombo 3.

“In other words, Sri Lanka is in fact ready for strategic international partnerships with willing cross border investors to face emerging global market challenges that the cross border investors perhaps on their own are not able to overcome” the Minister stressed.

Speaking about the potential investment sectors in Sri Lanka, he said “Sri Lanka’s current Investment opportunities are led by our massive infrastructure development projects such as highways, ports, airports, real and commercial estate development in tourism sector and also a host of vibrant industrial development prospects. At the same time, the sectors of business process outsourcing, nanotechnology, modern agro-technology, and capacity building on modern skills are also promising new areas that Sri Lanka is venturing into. In addition to the investment zones managed by the Board of Investment of Sri Lanka, the Ministry of Industry and Commerce has also developed 12 Industrial Parks across the country with essential infrastructure. The latest addition mooted is an industrial park for Mannar District. We are also contemplating an exclusive manufacturing zone in Kurunegala for pharmaceutical industry.”

Minister Bathiudeen continued: “What is the ‘new outlook’ of Sri Lanka that we talk so much about? By now I am sure you may have already come across many concepts and slogans emanating from various economic sectors that reflect our national resurgence. The apparel sector slogan of “Garments without Guilt” and the tourism sector slogan of “Refreshingly Sri Lanka-Wonder of Asia” are some examples” he said and added: “But I will not draw your attention to any one slogan in particular here. As the Minister of Industry and Commerce, I just want you to understand the vital reality that emanates from the body of all these slogans and important branding efforts – that, Sri Lanka is now really open for business.  You are expected to undertake to safeguard and promote our motherland in foreign lands where no one else is duty bound to do so as much as you are supposed to. That is your primary responsibility, and we often tend to interpret this as our main role which is understandable. However, I must emphasise that as you take on this new task in a resurgent Sri Lanka, you have an additional and also a vital role — a special message to deliver to the business community in your accredited country. The special message is that a now peaceful Sri Lanka is beyond “open to business” — in fact, it is open to international business & investment partnerships, including for large scale multinational corporate investors. In other words, Sri Lanka is in fact ready for strategic international partnerships with willing cross border investors to face emerging global market challenges that the cross border investors perhaps on their own are not able to overcome.”

Also present during the session were Gomi Senadhira (Director General of Commerce), Bandula Somasiri (Deputy Director of Commerce), W.M.K.R. Balachandra (Acting Secretary, Ministry of Industry and Commerce) Hasitha Seneviratne (Additional Secretary, Ministry of Industry and Commerce), and Sujatha Weerakoon (Director General-EDB).