Kajima Corp. doing survey on prospects in Sri Lanka for Japanese firms

Monday, 15 October 2012 00:00 - - {{hitsCtrl.values.hits}}

By Nisthar Cassim in Tokyo

In a move to further bolster bilateral ties the Japanese Government has enlisted a top corporation to do a survey on prospects for its companies and investors in Sri Lanka.

Sri Lanka’s Amba-ssador in Japan Admiral Wasantha Karannagoda said that construction industry specialist Kajima Corporation has been selected by the Japan’s Ministry of Land, Infrastructure, Tourism and Transport to do a study of prospects, opportunities and trends in Sri Lanka’s property and real estate market as well as business and investment climate.

Karannagoda made this announcement during his address at the Sri Lanka Investment Promotion Conference held last week in Tokyo under a joint initiative by New World Securities Ltd., (NWS) and the Embassy.

Around 100 representatives from Japanese companies attended the forum and listened to speeches by Senior Minister Dr. Sarath Amunugama and Central Bank Governor Nivard Cabraal in addition to presentations by a group of private sector companies, the Securities and Exchange Commission, and NWS’ partner in Japan A2 Media Ltd.

Karrannagoda said a team from Kajima had already visited Sri Lanka as part of its exercise recently and met with representatives in the Government and private sector. A follow up visit is also likely.

He said Kajima’s comprehensive report will be out in March next year and will be widely distributed by the Japan’s Ministry within the Government Ministries, public and private sector organizations as part of promoting opportunities in Sri Lanka.

“This is a major benefit for the country in effectively communicating with Japan’s public and private sector the post-war opportunity in Sri Lanka,” Ambassador Karannagoda told the Daily FT which covered the Investment Conference in Tokyo.

Kajima has done similar reports on Laos and Cambodia whilst another on Myanmar is underway. Kajima has strong interests in Construction (Civil Engineering and Building Construction), Real Estate Development, Architectural Design, Civil Engineering Design, Engineering among others.

The study on Sri Lanka will cover the current status of the overall economic, business and investment climate, socio-economic progress, on-going and planned developments in real estate, property, construction and infrastructure sector. It will also focus on future demand, trends and other relevant factors.

Ties between Sri Lanka and Japan, one of the biggest donors and a key trading partner and an investor, are at a high as the two countries celebrate 60 years of diplomatic relations this year. The Embassy in Tokyo has held several key events already promoting investment, economic, tourism and cultural ties whilst a few more major events are scheduled later this year as well.