SLSBC trade and investment promotion mission to Singapore a success

A delegation from the Sri Lanka- Singapore Business Council of the Ceylon Chamber of Commerce (SLSBC) successfully concluded a business mission to Singapore recently.

The business delegation was organised to coincide with the I-Advisory Seminar on ‘Doing business with Sri Lanka,’ a business forum organised by IE (International Enterprise) Singapore in association with the High Commission of Sri Lanka in Singapore.

IE Singapore is a Singapore Government agency tasked to promote overseas growth of Singapore-based enterprises and international trade.

The seminar intended to educate participants on investment opportunities in Sri Lanka was attended by nearly 100 Singaporean companies such as APL Logistics, a wholly owned subsidiary of Singapore-based Neptune Orient Lines; a global transportation and logistics company engaged in shipping, Frasers Hospitality, a world leader in serviced residences, Freight Links Express Pte. Ltd, a leading freight forwarder with a global network, Rotary Engineering Limited, a leading oil and gas infrastructure services company with extensive international experience offering fully integrated engineering design, procurement, construction and maintenance, to name a few and members of the Singapore Business Federation and the Singapore-India Chamber of Commerce were amongst the participants.

The delegation was led by the President of the Sri Lanka-Singapore Business Council of the Ceylon Chamber of Commerce, Shamil Mendis, Chairman/Managing Director of Spear International Ltd.  The 11 member delegation had a remarkably productive visit to Singapore.

The Speakers at the forum included K.V.P. Ranjith de Silva, Secretary, Ministry of Civil Aviation, Sri Lanka, Johanne Jayaratne, Executive Director, Airport & Aviation Services (Sri Lanka) Ltd., Duminda Ariyasinghe, Executive Director, Investment Promotion, Board of Investment of Sri Lanka and Vivek Chhabra, Regional Director, South Asia, Group Business Development, Asia Pacific Breweries Limited.

In his opening address, Mike Ng, Group Director, Capability Development Group of IE Singapore, emphasised: “Business confidence has rebounded in Sri Lanka and the country is now focused on attracting investments, placing the country on a trajectory of growth and development and Sri Lanka is a country that presents many opportunities for Singapore companies.”

Addressing the gathering K.V.P Ranjith De Silva, Secretary, Ministry of Civil Aviation, Sri Lanka elaborated on the topic ‘Investment Friendly Infrastructure in Sri Lanka,’ focusing on greater Hambantota Development and other major projects in infrastructure. Johanne Jayaratne, Executive Director, Airport & Aviation Services (SL) Ltd. briefed the forum on the Hambantota International Airport and the Free Zone.

Duminda Ariyasinghe, Executive Director, Investment Promotion representing the Board of Investments of Sri Lanka, highlighted Sri Lanka’s new and attractive FDI policies and the benefits that would accrue to Singapore investors.

Vivek Chhabra, Regional Director, South Asia, Group Business Development, shared his positive experiences in investing in Sri Lanka through a case study on Asia Pacific Breweries Limited. Mr Chhabra then opened the house to a question and answer session which proved to be an excellent opportunity for interested Singapore companies to raise many relevant questions.

Shamil Mendis, President of the Sri Lanka – Singapore Business Council emphasized that the time for investing in Sri Lanka was now and that potential investors should visit the country without any delay and see for themselves the varied opportunities available as mentioned by the speakers.

Whilst commending their remarkable foresight, he quoted examples of business organizations including a leading Singaporean investor who had earlier invested in Sri Lanka and was now well positioned to benefit from the upswing in the economy and an internationally reputed hotelier who had finalized arrangements to establish two hotels of a well known chain in Sri Lanka.

Mendis concluded by stating how the Sri Lanka Singapore Business Council could facilitate  Singapore companies to establish business links with companies in Sri Lanka.

The 11 member delegation comprised of Spear International Ltd, A. Baur & Co. Ltd. Aitken Spence Co. Ltd, Brown & Co. PLC, Forbes & Walker Ltd., Helanka Vacations Ltd., Raniyo Ltd., Sarasavi Exports Ltd., Sterling Lanka Group and Taj Hotels and Resorts. The visit was coordinated by the Secretariat of The Ceylon Chamber of Commerce.