BOI to open first ever overseas representative office in Bangalore

The Board of Investment of Sri Lanka (BOI) will open its first ever overseas representative office in Bangalore, said Industry, Investment promotion and Tourism Minister Anura Bandaranaike.

The Minister on a private visit to Bangalore also held extensive discussions with Chief Minister Dharam Singh and Industry Minister S. C. Scindia regarding improving and enhancing bilateral, socio economic relations between Bangalore and Colombo, a press release said.

The BOI will open its first ever overseas representative office in Bangalore identified as one of India's fastest growing cities and a center of excellence for the ITC industry and business process outsourcing. Chinese Prime Minister Wen Jiabao had also visited Bangalore soon after his recent visit to Colombo. Bangalore now in a phase of accelerated economic growth will provide opportunities for facilitating economic linkages and enhancing and opening up diverse investments in Sri Lanka.

Addressing a well attended meeting of Bangalore's Chamber of Commerce and Industry on April 13, Bandaranaike traced the close political and personal links between India and Sri Lanka. He focused on the need to consolidate economic relations between the two countries by 'encouraging trade and investment between the two countries using the new opportunities created by the Indo Sri Lanka Free Trade Agreement and the upcoming Indo Sri Lanka Economic Cooperation Agreement.

During the question and answer session, several businessmen representing the Indian Chamber showed interest in development tourism between Bangalore and Colombo.

Bandaranaike confirmed that Representative Office of the BOI in Bangalore will be opened soon at a simple ceremony. The office will function with a small staff.