Malik briefs Thai business delegation on Lankan investment opportunities
AThai delegation consisting of 35 leading entrepreneurs from the Thai Chamber of Commerce in Bangkok visited Sri Lanka as part of the business delegation accompanying the Prime Minister of Thailand on a state visit to Sri Lanka.
The delegation, which was accompanying Prime Minister Gen. Prayut Chan-o-cho, included the Thai Chamber of Commerce, Board of Trade of Thailand, Federation of Thai Industries, Mitr Phol, Siam City Cement, Bangkok Dock Company Limited, Thai Airways International, Minor International and others.
Welcoming the delegation to his ministry, Development Strategies and International Trade Minister Malik Samarawickrama said, “Our policy now is increasingly to build up our trade and investment with the East. In fact, it would be correct to say we are now looking to East and recently Sri Lanka entered into an FTA with Singapore. The visit of the Prime Minister of Thailand is expected to lay the foundation for a future FTA between Sri Lanka and Thailand.” Samarawickrama further added, “The Board of Investment of Sri Lanka, an agency that comes within the purview of my ministry, is here to help any interested investor in establishing themselves in Sri Lanka for starting projects. We are particularly interested in FDI, which will bring know-how to the country. In addition to that, there is an ongoing discussion on the establishment of a Thai-managed export processing zone.”
Thai delegation leader Kalin Sarasin said, “Sri Lanka is a hub for South Asia and has an excellent connection to the Middle East, East Asia and Europe. Indeed, there have been very strong ties in the past but now we must explore the future opportunities that may exist between Sri Lanka and Thailand.”
Also participating at the forum was CHEC Port City Regional Sales Director Kelvin Tan addressed the visiting delegation and briefed them on the potential for investing in the future Colombo Business District.
Tan stated, “We are building a world-class city for South Asia. It is important to understand that South Asia is a region which has 1.7 billion people. It is therefore a huge market at our doorstep. By the middle of 2019, all reclamation will be completed. And the first age of construction will begin by early next year.” “You look at the map you will see that Shangri La Hotel will be facing the CHEC Port City. And this area will be part of the new Colombo Business District. When the project is completed, we estimate that it will have a population of 250,000. An estimated US $ 15 billion would have flowed into the project and 5.7 million square meters of real estate would be developed as a consequence of setting up the Port City,” he added. The next phase of the meeting was the signing of a memorandum of understanding between the Ceylon Chamber of Commerce and Thai Chamber of Commerce.
Board of Investment Chairman Dumindra Ratnayake hosted this event and stated that it reflected the close relations between the two countries and it was the right time to sign this agreement, given the considerable opportunities that exist for investing in Sri Lanka. The agreement was signed by Ceylon Chamber of Commerce Chairman Rajendra Theagarajah and Thai Chamber of Commerce President Kalin Sarasin. Sarasin concluded by stating that the agreement built up ties between the private sectors of the two countries and will drive the promotion and collaboration in developing key sectors such as the gem industries, jewellery industry, tourism, agriculture, agro industries and fisheries.
He also invited a Sri Lankan delegation to attend an exhibition on the food industry where Thailand is a world leader.