Boosting biz ties with Japan

Saturday, 1 November 2014 01:25 -     - {{hitsCtrl.values.hits}}

  • Minister of Investment Promotion and BOI interact with top Japanese corporate and industry leaders
    Minister of Investment Promotion of Sri Lanka Lakshman Yapa Abeywardene and the delegation from the Board of Investment visited Japan to meet, to interact and to discuss issues of importance, relevance and significance, thus endeavouring to promote and advance economic, investment and commercial activities between the two countries. In this context, the Board of Investment of Sri Lanka, in close coordination with the Embassy of Sri Lanka in Japan and the Bank of Tokyo-Mitsubishi UFJ, had scheduled a number of high profile and pivotal meetings for Minister Abeywardene, Board of Investment Chairman Dr. Lakshman Jayaweera and Deputy Chief of Mission Dr. Saj Mendis and the delegation from the Board of Investment. The meetings were held both in Osaka and in Tokyo. Further, high profile and select investment forums were held in Osaka and in Tokyo, which were attended by senior corporate and industry leaders and investors from Japan. The Minister and delegation paid a courtesy call on the Chief Executive Officer of Sharp Corporation and discussed strategies for Sharp Corporation to be economically engaged with Sri Lanka by committing investments in the sphere of manufacturing. In Tokyo, the Minister and delegation had a comprehensive meeting with the CEO and Deputy President of the Bank of Tokyo-Mitsubishi UFJ Takashi Morimura and other senior executive officers. During this meeting, both the parties discussed the most efficacious courses of action to implement and execute the MoU signed between the Bank of Tokyo-Mitsubishi and the Board of Investment in August of this year. The effective implementation of the said MoU would accrue unprecedented quantum of investment, economic and commercial utility to Sri Lanka, thus mutually-benefitting both the countries. Further, the delegation had discussions with Managing Executive Officer Tatsufumi Sakai, of Mizuho Bank Ltd., the second largest bank in terms of assets in Japan, and their delegation with regard to deepening and strengthening commercial and investment relations between the two countries. Abeywardene and delegation had a meeting with Executive Vice President of Itochu Corporation and Chairman of Japan – Sri Lanka Business Cooperation Committee, Mr. Tadayuki Seki, and delegation at the corporate office of Itochu. The Itochu Corporation is one of the largest trading houses in the world and the delegation had in-depth discussions with regard to strengthening the commercial and business relations between the two countries. The Minister and delegation met with the senior most officials of Japan Bank for International Cooperation (JBIC), including that of the Director General Kazuhiko Tanaka, in order to discuss more proactive cooperation between the JBIC and the Board of Investments. They also had a highly-focused and constructive meeting with the Japan External Trade Organization, known as JETRO, at the Corporate Head Office. The JETRO delegation was represented by the President, Satoshi Miyamoto, and a senior level delegation. The two parties focused on issues of relevance such as strategies to increase and enhance bilateral trade, investments and commercial activities between the two countries. Apart from these key and critical meetings, the delegation of BOI and the Embassy of Sri Lanka had meetings with other corporates and potential investors as a follow up to the two investment seminars held in Osaka and in Tokyo. The official visit of Abeywardene and the BOI Chairman and delegation, in close coordination with the Embassy of Sri Lanka in Tokyo, was highly successful, fruitful and result-oriented. A number of large corporates, money centre banks, institutional investors and industrialists of Japan expressed keen interest to be commercially and economically engaged with Sri Lanka.