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Hungarian and Eastern European businessmen are willing to invest in Sri Lanka's tourism, tea, furniture, gem and jewellery and watch assembly industries, members of a visiting Hungarian business delegation told officials of the Board of Investment (BOI) on Tuesday.

The delegation comprising representatives of the Ko-Ker Group Kft., a major Hungarian dealer in stone and stone related products and Dr. Padma Gannoruwa, Honorary Consul for Sri Lanka in Hungary, said the visit to the BOI was part of their efforts to encourage Hungarian and Eastern European investment in Sri Lanka. The delegation discussed the possibilities of importing Sri Lankan granite for the Ko-Ker Group.

The Ko-Ker Group is a leading company in the stone industry in Hungary. It currently imports its raw material from China and is seeking an alternative source for quality granite.

In its proactive search for suppliers, the Company plans on visiting several Sri Lankan businesses in the industry.

The Ko-Ker delegation said it also represented Hungarian and Eastern European businesses interested in investing in Sri Lanka.

They said, Hungarian businesses are willing to invest in Sri Lanka's tourism, tea, furniture and watch assembly industries. On its return to Hungary, the delegation expressed its intention to enlighten their business community of BOI projects in Sri Lanka.

The delegation was presented detailed information on investment procedures in Sri Lanka and the attractive incentives Sri Lanka offers investors from Eastern European countries.

A significant incentive is a large duty reduction for Sri Lankan exports, in recognition of Sri Lanka's adherence to International Labour Organisation Standards (ILO).

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