APCAC/AmCham delegation in Sri Lanka
Investment by US companies to grow
The investment by the US corporations in Sri Lanka is expected to
touch US$ one billion in the next five years. Currently, over 90 US
corporations operating in Sri Lanka have made a cumulative investment of
US$ 200 million, said APCAC Asia Pacific Vice President, Immediate Past
President of AmCham India and head of a 16-member visiting delegation of
the Asia-Pacific Council of American Chambers of Commerce (APCAC); and
American Chamber of Commerce in (AmCham)India Atul Singh to media.
The delegation is here, from October 12-14, to understand the
investment areas where Sri Lanka needs technology and investments from
the American companies. Towards this end the delegates would be meeting
the business leaders and the country’s elected leadership.
The American companies keen to explore investment opportunities in
Sri Lanka. The delegates represent varied business interests ranging
from infrastructure (including power, railways, roads and water
treatment), healthcare, food and beverages. Defense and commercial
helicopters, financial services and logistics are also represented.
“The new business environment in Sri Lanka presents great
opportunities for the US companies. We expect the American companies to
participate wholeheartedly and this participation will increase the US
FDI target set by the Government of Sri Lanka,” said Singh. The
delegates represent Fortune 500 companies like 3M, Caterpillar,
Coca-Cola, DuPont, GE, Kimberly-Clark and UPS. Other leading companies
include Fiserv, Parsons Brinckerhoff, Rockwell Automation, Sikorsky
Aircrafts Corporation and Western Union.
The visit assumes added significance as it coincides with the US-Sri
Lanka Public-Private Partnership Conference in Colombo.
“As we engage in a Public-Private Partnership dialogue, we are
confident that several new initiatives will develop and economic
activity will receive the necessary impetus required for dynamic
growth,” Singh said. The delegates also met the visiting Assistant US
Trade Representative for South Asia, Michael Delaney to brainstorm on
how to make the US companies leading investors in Sri Lanka.
Members of the delegation will discuss several business openings,
investment opportunities and economic cooperation projects that Sri
Lanka has to offer.
As the economic and political environment becomes more conducive for
foreign investment and growth, American companies have shown renewed
interest in examining the emerging investment and business opportunities
in Sri Lanka.
Some of the sectors that are expected to get special attention during
the dialogue are infrastructure, healthcare, information technology,
agriculture and food processing and financial services. |