Sri Lanka and Thailand hold high-powered talks to explore mutually-beneficial investment corridors

To further enhance and expand investment corridors between Sri Lanka and Thailand, the Embassy and Permanent Mission of Sri Lanka in Bangkok, together with the Board of Investment of Sri Lanka and China Harbour Engineering Company (CHEC) Port City Colombo Ltd., co-hosted a high-powered dialogue by inviting leading line agencies and trade chambers of commerce of Thailand to an opportunity exploration meeting recently. 

Several senior level dignitaries from Thai-Sri Lanka Chamber of Commerce, Thailand Board of Investment, Thai Chamber of Commerce and Board of Trade Thailand, Federation of Thai Industries, Department of South Asian, Middle East and African Affairs, Ministry of Foreign Affairs of Thailand and Department of International Economic Affairs, Ministry of Foreign Affairs of Thailand actively participated in these progressive talks to explore and identify bilateral investment opportunities between the two countries. 

The discussions explored multiple investment opportunities Sri Lanka could offer by way of the CHEC Port City and also its six thrust sectors of Manufacturing, ICT, Hospitality and Tourism, Agri and Food Processing, Infrastructure and Other Services, in addition to options that could also enable Sri Lankan enterprises to expand supply chain operations in Thailand.

Opening the high-powered forum, Ambassador of Sri Lanka to the Kingdom of Thailand and Permanent Representative to United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), C.A. Chaminda I. Colonne  warmly welcomed representatives from both Sri Lanka and Thailand and said, “Under the National Policy Frame Work ‘Vistas of Prosperity & Splendour’ and the 20 Foreign Policy guidelines of the present Government led by President Gotabaya Rajapaksa, priority has been given, Sri Lanka to become an investment friendly country with high level of doing business to attract sustainable foreign direct investments.”

The Ambassador recalled the acceptance of her invitation extended to Prime Minister General Prayut Chan-o-cha, for Thai investors to invest in the Colombo Port City Project and other investment opportunities in Sri Lanka, during her recent courtesy call and conveyed special gratitude to Director-General Darm Boontham of the Department of South Asian, Middle East and African Affairs of the Ministry of Foreign Affairs of Thailand for facilitating to arrange the virtual meeting within a short time span.

Board of Investment (BOI) Sri Lanka Chairman Sanjaya Mohottala, while providing a comprehensive overview of Sri Lanka’s compelling investment climate and outlining Sri Lanka’s unique investment focused propositions, said, “These discussions have exposed us to the vast potential of investment prospects that can open the doors for transformational change and positively impact the future of both our economies. Sri Lanka offers dynamic and many opportunities, and we warmly welcome the investment community of Thailand to take advantage of this potential, which enables global enterprises to establish regional headquarters in Sri Lanka through the CHEC Port City and make full use of our suite of strategic investment propositions ranging from its key thrust sectors, market access, geographic location, economic fundamentals, winning & capable talent, and quality of life.”

Port City Colombo Country Manager – Sales and Investor Relations Radhika Ellepola presented the project’s Master Plan. He elaborated on the progress of the project, state-of-the-art infrastructure, sustainability, unmatched opportunities to invest in the multi services Special Economic Zone (SEZ) and its salient features. 

He apprised the Thai business chambers and other officials of the four main real estate asset classes – Residential, Commercial, Hospitality and Mixed Use Developments in which opportunities can be explored. He added that Port City Colombo offered a unique advantage given its geographically significant location and that it could serve as the region’s hub for services. 

Thailand Board of Investment Thai Enterprise Development Division Director Punlop Punyasiri, Board of Trade Thailand Vice Chairman of Committee on South Asia, Middle East and Africa Affairs Songsang Patavanich and Textile Industry Association President Somsak Srisupornwanich, representing the Federation of Thai Industries, also addressed the forum.