The Sri Lankan Ministry of Investment Promotion, the Board of Investment Sri Lanka (BOI), and the Sri Lankan High Commission in the UK were attending at a roundtable discussion on “Strengthening Commonwealth – Sri Lanka Partnerships” which was organized by the Commonwealth Enterprise and Investment Council (CWEIC) in Colombo.
The BOI Investor Facilitation Center’s resources, Ready to Invest programs, and Sri Lanka’s welcoming investment climate were all emphasized in a video message from Hon. Dilum Amunugama, State Minister of Investment Promotion that was played during the Roundtable. As the Chair of the CWEIC for Sri Lanka, Niro Cooke provided more details on investment prospects after Deshan J. Gonawela, speaking on behalf of the BOI, during a presentation on ”Investing in Sri Lanka.”
Under the direction of Lord Marland, attendees participated in a question-and-answer session that was participatory. The discussion highlighted the attributes that make Sri Lanka a desirable place to invest, with panelists stressing the country’s adaptable labor force and adept management of intricate macroeconomic issues. A debate on the significance of legislative frameworks in determining the allure of investments as well as the importance of renewable energy in the investment outlook was also sparked by participant queries.
In his remarks to trade chamber representatives, business executives, and heads of industry in the UK, High Commissioner Rohitha Bogollagama emphasized Sri Lanka’s quick economic recovery and debt-restructuring initiatives with international organizations. Citing the tax benefits, legal framework, skill pool use, and BOI facilitation, he emphasized the favorable investment climate.
Bogollagama presented potential investment opportunities that would take use of Sri Lanka’s advantageous location near the Indian Ocean, including tourism, IT, AI, Colombo Port City, and higher education (including a planned digital university).
High Commissioner Rohitha Bogollagama showcased Sri Lanka’s investment potential at the Trade and Investment Roundtable “Strengthening Commonwealth – Sri Lanka Partnerships,” held on March 20, 2024, at the “Institute of Directors” in London, at the invitation of the Commonwealth Enterprise & Investment Council (CWEIC). The CWEIC Chairman, Lord Marland of Odstock, visited Sri Lanka recently and had meetings with President Ranil Wickremesinghe, which led to the creation of the Roundtable.
High Commissioner Rohitha Bogollagama spoke to a group of UK corporate leaders, including members and strategic partners of CWEIC, industry leaders, and representatives from the London-based trade chamber. She went into detail about the nation’s quick economic recovery, which showed its spirit of resilience, as well as the ongoing debt-restricting process with the IMF, Paris Club, and bilateral lenders. High Commissioner Bogollagama also outlined the main features of the current favorable investment environment in Sri Lanka, which is supported by tax breaks, the country’s legal system, the Rule of Law, the country’s ability to absorb talent from abroad and ensure employee welfare, investment facilitation—particularly from the BOI—and Sri Lanka’s advantageous location in the Indian Ocean.
He went on to describe the investment prospects in the tourist, higher education, and manufacturing sectors of Sri Lanka, including the Colombo Port City project, IT & AI, and the idea to establish a digital university in the country.
During the Roundtable, Hon. Dilum Amunugama, the State Minister for Investment Promotion, delivered a video message. In his speech, Minister Amunugama emphasized the favorable investment environment in Sri Lanka, the resources provided by the BOI Investor Facilitation Centre (IFC), and the Ready to Invest projects that are accessible on the BOI website and may be invested in with ease using Plug and Play technology. A thorough presentation of the BOI titled “Investing in Sri Lanka” was given by Mr. Deshan Gonawala of the State Ministry of Investment Promotion. A thorough presentation was also given by Mr. Niro Cooke, Group Director of Capital Maharaja Organization Ltd., one of the CWEIC’s key partners.
Under the direction of Lord Marland, the Roundtable participants held an interactive session during which they shared their experiences investing in Sri Lanka as well as any queries or concerns they had. The roundtable attendees were also given printed handouts with information on investing in Sri Lanka. The Roundtable provided a valuable forum for talks and cooperation possibilities targeted at improving trade and investment connections between Sri Lanka and the Commonwealth countries. It was followed by a networking event.
