UNIDO hosts webinar on ‘Investment Opportunities in Export Processing Zones in Sri Lanka’

UNIDO ITPO Tokyo hosted a webinar on ‘Investment Opportunities in Export Processing Zones in Sri Lanka’ with the Board of Investment of Sri Lanka and the Embassy of Sri Lanka in Japan. 

Held on 28 August, the event was supported by Japan External Trade Organization (JETRO).

Head of UNIDO (ITPO) Tokyo Yuko Yasunaga commenced the program creating a positive sentiment towards the investment environment in Sri Lanka.

Highlighting Sri Lanka’s strategic location Embassy of Sri Lanka in Japan Charge d’Affaires Chandana Weerasena’s introductory speech detailed a number of reasons encouraging the Japanese business community to consider Sri Lanka as an Investment destination.

Presenting the key macroeconomic priorities of the newly appointed Government, BOI Director General Sanjaya Mohottala introduced the new targeted strategic sectors for foreign investments. In his speech, he stated: “Effective management of the COVID-19 pandemic has seen not only low numbers in terms of fatalities and spread, but has also resulted in national exports breaching the $ 1 billion mark last month. Thus, I think you will agree with me on this regard that the economic outlook for Sri Lanka is quite positive, given the circumstances of 2020.”

Introducing the Katunayake, Mirigama, and Hambantota EPZs as potential locations for Japanese investments, Executive Director Investment Promotion Prasanjith Wijayatilake elaborated on investment opportunities in manufacturing auto components, pharmaceutical products, medical devices, electric and electronic components as well as the logistics sector. His presentation also detailed the fiscal incentive packages offered by BOI.

Next, Kohoku Lanka (manufacturing optical communication components) Managing Director Motoji Suzuki presented a testimonial on his company’s operation during COVID-19. He specifically commended Sri Lanka’s successful operation in controlling the pandemic compared to other countries in the region.

Nakagawa Corporation (parent company of Tropical Findings located in KEPZ) Chairman Shigeki Nakagawa shared the company’s 40 years’ experience of producing jewellery components in Sri Lanka. Highlighting Sri Lanka’s investment advantages he gave special insight on the country’s high level of education, quality workforce, good security, pleasant living environment and supportive FTA agreements.

The webinar concluded with emphasis on the years of mutual trade and investment between Japan and Sri Lanka dating back to 1971, highlighting Japanese contributions to multiple sectors, which is a solid foundation to attract more FDI from Japan.