Japanese electronics components industry looks to set up shop in Lanka

Friday, 20 June 2014 00:55 - - {{hitsCtrl.values.hits}}

The Japanese visiting delegation consisting of members of Japanese Electronics Components Industry (JEITA) were hosted by the BOI for a briefing on investment opportunities in Sri Lanka. The Japanese side included representatives from many leading Japanese manufacturers of electronics components which is a major industry of Japan. Currently Japan maintains a 40% market share of the world electronic components productions and manufactures a high percentage of highly specialised parts such as transducers. Many non-Japanese companies also rely on Japanese made electrical components. The Japanese delegation which was brought by Nihal Trading Company was interested in looking at the possibility of Sri Lanka emerging as a centre for the manufacture of Japanese electronic components. The delegation is currently evaluating Asian countries to invest in and Sri Lanka is one such option.

This is part of Japan’s China + 1 strategy, where Japanese companies look at alternative countries in Asia to their main investment base in China. JEITA consist of 46 companies who are world leaders in the field of electronic. The BOI side conducted presentation of investment opportunities of Sri Lanka and also highlighted. Among its members are industry leaders such as TDK Corporation, Sumida Corporation, FDK Corporation and Kyocera Corporation. There was also a presentation on the potential of BOI’s Export Processing Zones at Suriyawewa and Mirijjawila in the new planned city of Hambantota. The Sri Lanka side has represented by Ministry of Investment Promotion Secretary K. Amunugama, BOI Chairman Dr. Lakshman Jayaweera, BOI Board Member Sanjeewa Wickramanayake, Director General Jayantha Edirisinghe, Executive Director (Research and Policy Advocacy) Dr. Nihal Samarappuli, Director (Media and Publicity) Dilip S. Samarasinghe and Director (Promotion) Nilupul de Silva.