Japan urges action to regain investor confidence at SLJBC AGM

From left (seated): Sri Lanka-Japan Business Council Secretariat Kiyara Cletus, Senior Vice President Ruwan Viraj Waidyaratne, Chief Guest Japan Ambassador Akio Isomata, Sri Lanka-Japan Business Council President Athulla Edirisinghe, Immediate Past President Mahen Kariyawasan, Vice President Shamil Mendis, Treasurer H. J. Rohitha Mendis with committee members and office bearers (standing) at the Sri Lanka-Japan Business Council AGM in Colombo​

• Hirohama Ceylon Director Athulla Edirisinghe elected as new SLJBC President 
• Japanese Ambassador Akio Isomata stressed need to actively promote Sri Lanka’s progress and opportunities in Japan
• Mega infrastructure delivery, resource development, and policy stability outlined as path forward
• Potential free trade zone for Japanese investors under consideration

By Divya Thotawatte 

As Sri Lanka seeks to reposition itself on the global stage, restoring investor confidence will depend on demonstrating reform progress, delivering key infrastructure projects, and unlocking untapped resources, said Japanese Ambassador Akio Isomata recently. 

He said this during the 46th Annual General Meeting of the Sri Lanka-Japan Business Council (SLJBC), where Hirohama Ceylon Director Athulla Edirisinghe was elected as the Council’s 2025/2026 President. 

The Ambassador acknowledged one of SLJBC’s key objectives, the promotion of trade and tourism, and the facilitation of investment. Yet, “for the SLJBC to be able to achieve this purpose, what is most important at this juncture is to regain the confidence of Japanese people and Japanese investors in Sri Lanka.”

He explained that due to the setbacks in recent years like the 2019 Easter Sunday attacks and the 2022 economic crisis, the Japanese interest in Sri Lanka had “naturally reduced.” However, the current momentum for reforms presented an opportunity to rebuild those ties. 

He outlined a path forward focused on transparency, project delivery, and promotion. 

“First, we should let the Japanese people and investors know more about the big change that is happening here in this country: the social, political environment, and economic recovery,” he said, pointing to efforts to stay within the IMF agreement and the importance of anti-corruption initiatives. 

Isomata, then, stressed the need to ensure that major infrastructure projects like the Bandaranaike International Airport (BIA) expansion were implemented. These projects were the most convincing proof of Sri Lanka’s transformation, he said, urging broader support from both the government and the private sector to see them through. 

Finally, he called for stronger efforts to promote Sri Lanka in Japan, highlighting untapped potential in Sri Lanka beyond tourism, including minerals, manufacturing, and trilateral cooperation with South India. 

The Ambassador also welcomed the start of a new technical-level working group between Japanese stakeholders and Sri Lanka’s Board of Investment (BOI) to address concrete problems that Japanese companies operating in Sri Lanka were currently facing. 

However, he added, “I want to be optimistic but we cannot be complacent with what we are seeing right now. Rather than being onlookers, please be actors. We shouldn’t miss the bus for the current of Japan-Sri Lanka-Bharat relations.”

Newly elected SLJBC President Edirisinghe also highlighted the need for bold action, stating that the time was right to demand an exclusive free trade zone for Japan in Sri Lanka, similar to the most successful model in India, the Nimrana Free Trade Zone model. 

“We have appealed to President Anura Kumara Disanayake through his Secretary Nandika Sanath Kumanayaka to prioritise it in the President’s agenda.” 

Edirisinghe further emphasised the need to empower Japanese investors already present in Sri Lanka, referring to key organisations such as the Japanese Ceylon Chamber of Industry (JCCI) and Japan Solidarity Association. He explained that the Sri Lankan private sector and Government had a duty towards them to remove any obstacles and clear their path for their commercial activities in Sri Lanka. 

Noting Japan’s projected need for 830,000 skilled workers by 2030, he also underlined the untapped potential for labour export. 

“We only have 63,000 Sri Lankan people in Japan. Japan pays three times more than the salary paid in Kuwait and Saudi Arabia, and still the rush is to send people to these Middle Eastern countries, even though we have over 50,000 students sitting for the Japanese-Language Proficiency Test (JLPT) and Japan Foundation Test (JFT) every year,” he said, calling on the Government and private sector to bridge the gap. 

The SLJBC’s action plan for the next two years will focus on creating strategic opportunities through collaboration with key Japanese-affiliated organisations, including the Japan International Cooperation Agency (JICA) Alumni Society, Japan Sri Lanka Technical and Cultural Association (JASTECA), and the Japanese Language Education Association. 

As both sides prepare for a potential visit by Sri Lanka’s president to Japan later this year, SLJBC highlighted a renewed focus on strengthening economic ties. With calls for policy continuity, targeted reforms, and deeper collaboration, both Ambassador Isomata and Edirisinghe underscored the necessity for sustained action to build investor confidence and advance bilateral cooperation. 

- Pix by Ruwan Walpola