Home / Travel / Tourism/ BOI signs new agreement with Japanese company for boutique hotel

BOI signs new agreement with Japanese company for boutique hotel


Comments / {{hitsCtrl.values.hits}} Views / Wednesday, 10 July 2019 00:00


Wakana JPN Director Hiroyuki Ota formally receives the Certificate of Registration from BOI Chairman Mangala Yapa. Wakana JPN Director Sunil Wickrama is also seen

 


The Board of Investment of Sri Lanka recently signed a new investment agreement with Wakana JPN Ltd. The agreement was signed on behalf of the BOI by Mangala Yapa, Chairman of the BOI and on behalf of the company by Hiroyuki Ota, Director and T.G. Sunil Wickrama, Director.

This agreement underscores the message that Sri Lanka’s tourism sector is well set to recover and flourish, as the country was recently awarded the title of ‘the best place to travel’ twice by the leading tourism industry publication, ‘Lonely Planet’ Magazine. This recognition happened in spite of the Easter Sunday attacks. Tourism is the third largest foreign exchange earner in the country. It is a noteworthy milestone that the Japanese investor has expanded his operations in the country. 

Wakana JPN Ltd. will set up exclusively to construct and operate a 21-roomed new boutique hotel in Ahungalla, with an investment of $ 8.4 million. The new hotel to be constructed is to serve the Sri Lankan hospitality industry, but with a Japanese style designed by the renowned architect Kengo Kuma. Every aspects of the new boutique hotel from the design of the building, to the furniture, internal decor, cuisine, etc. are to be optimised according to the traditions of both Sri Lanka and Japan.

This will serve as a bridge between the two cultures. Japanese Foreign Direct Investment will help attract a more diversified international clientele, while creating and providing employment for the local population. This will foster both a development of physical capital and a development of human capital; enhancing the value of the Sri Lankan hospitality industry and the economy in general.

The group presently owns and operates two more hotels: Coral Rock by Bansei (Bansei Royal Resorts Hikkaduwa PLC) and Club Villa Bentota (Bentota Club Villa Ltd.). In addition to these investments, the group foundation has a long history of having invested in Sri Lankan government financial securities and instruments.


Share This Article

Facebook Twitter


DISCLAIMER:

1. All comments will be moderated by the Daily FT Web Editor.

2. Comments that are abusive, obscene, incendiary, defamatory or irrelevant will not be published.

3. We may remove hyperlinks within comments.

4. Kindly use a genuine email ID and provide your name.

5. Spamming the comments section under different user names may result in being blacklisted.

COMMENTS

Today's Columnists

An efficient energy sector for economic growth

Tuesday, 22 October 2019

When I saw the advertisement about an Energy Forum organised by PUCSL for a Policy Dialogue on the importance of an efficient energy sector for economic and investment growth, I was very happy as I have been interested in this relationship for more t


Will the rule of law, ethics, and morality be above family rule and crony rule?

Tuesday, 22 October 2019

The two main contenders for the Presidency of Sri Lanka are Gotabaya Rajapaksa and Sajith Premadasa. That is stating the obvious. No doubt, some others may have a limited impact on the outcome. Minority votes may benefit Premadasa, while the Sinhala


Botched airport opening ceremony: Sri Lanka cries

Tuesday, 22 October 2019

Last Thursday (16 October) was a great day for Sri Lanka; the Jaffna International Airport was opened. It offered a great opportunity for integrating Jaffna with the rest of Sri Lanka; for tourists from Tamil Nadu (the largest number of tourists comi


Ministry of Tourism: A nation rich in hospitality

Monday, 21 October 2019

This series is based on business leader Dhammika Perera’s recently revealed ‘Economic Growth Strategy and Action Plan to increase GDP Per Capita from $ 4,000 to $ 12,000’. The document outlines goals and action plans for 23 ministries and today


Columnists More