High level Russian delegation meets minister:

Gaz Prom keen on investment opportunities here

A high level delegation led by the Gaz Prom Russian oil and natural gas giant Director General Gulev Valeriy met Economic Development Minister Basil Rajapaksa on August 16 at his office to discuss investment opportunities especially in oil exploration in the Mannar and Cauvery Basins and the natural gas market in Sri Lanka.

The Director General elaborating on Gaz Prom's other ventures said that the core business of Gaz Prom lies in oil and natural gas sectors. The company possesses subsidiaries in many different industries including finance, media, aviation and agriculture and hotel and tourism sectors. In addition, it controls majority stakes in various enterprises in Russia, including the largest TV channel.

The Economic Development Minister while thanking the delegation for visiting Sri Lanka and for the keen interest shown in investing in Gaz Prom's core field, said Gaz Prom underlines the importance of large scale economic cooperation with Russia to strengthen the strong and long-standing relationship with the Russian Federation and Sri Lanka.

During the meeting Minister Rajapaksa said that with the dawn of peace there are three things the country needs most - investment, trade and tourism.

He further said that the country that Marco Polo once described as the best island of its size is once again open for business and for leisure and invited more and more Russian tourists to visit Sri Lanka and Russian enterprises to invest in Sri Lanka. Describing Sri Lanka's potential in tourism and investment he further said that Sri Lanka is situated in an ideal location on the world map and it is the best destination and also at the best time of its post independence era for investment and tourism.

Elaborating further on the emphasis given to develop Sri Lanka as a key tourist destination, the minister brought to the attention of the delegation the areas for cooperation and investment in the tourism field by highlighting the Kalpitiya, Kuchcheveli and Pasikuda tourism zones.

He invited Gaz Prom and its subsidiaries to look positively in investing in tourism sector.

The minister also pointed out that Sri Lanka Tourism has identified Russia as a key market to attract tourists to Sri Lanka and the Gaz Prom's presence in Sri Lanka would positively contribute to bring an increasing number of Russian tourists to Sri Lanka in the journey to make Sri Lanka the Wonder of Asia.

The Director General was very keen on going through the Tourism Sector Investment Plans that was shown to him by the minister and agreed to take positive steps in this regard.

The Russian ambassador who also participated in the meeting stated that the recommencement of Aeroflot flights to Sri Lanka in November is an indication of growing Russian tourism interest in Sri Lanka.

Aeroflot and SriLankan flying between Colombo and Moscow will boost the much needed connectivity between the two countries.