Korean Ambassador hosts BOI Chief; discusses trade and investments

The Ambassador of the Republic of Korea Santhush Woonjin Jeong this week hosted Board of Investment Chairman Sanjaya Mohottala at the Korean Embassy along with representatives of the Korean Businessmen’s Association and the Korean Resident’s Association.

Woonjin said fruitful discussions to promote bilateral trade and investment were held. 

“Korean investors have played a significant role in developing two-way trade and investment in ways which benefit both countries and both economies,” the Ambassador said reiterating that the investors have helped to strengthen the commercial ties between Korea and Sri Lanka in harmony with the national policy. 

He said since the COVID-19 pandemic, the global economy including the Sri Lankan economy has experienced a negative impact and Korean investors have faced many challenges amidst travel restrictions and disruptions in the global supply chains. 

The Embassy said the BOI Chairman agreed to expedite the resolution process of the challenges faced by the Korean investors due to the COVID-19 pandemic. 

The Ambassador and the Korean business delegation expressed their thankfulness to the continuous assistance extended by BOI in coordinating and facilitating two-way trade and investment. 

Ambassador Woonjin further stated that FDI is one of the key strategic pivots in elevating and advancing the overall economy of Sri Lanka. He added that Sri Lanka is very safe and is well poised to receive Foreign Direct Investment and Foreign Institutional Investment, particularly from the Republic of Korea since the two countries have been engaged in economic and commercial activity for well over four decades. 

The Ambassador is confident that the active role of the Board of Investment will attract more investment opportunities thus paving the way to consolidate strong bilateral ties.