Singapore business delegation to visit Sri Lanka
A business delegation from Singapore will visit Sri Lanka in the
second quarter of this year looking at investment opportunities in
The Sri Lanka Board of Investment (BOI) and Singapore Business
Federation signed the MOU to promote investment relations between the
two countries during President Mahinda Rajapaksa's visit to Singapore.
The business delegation will seek investment opportunities in several
areas including infrastructure construction, education, healthcare,
manufacturing, and trading and logistics.
Secretary to the President Lalith Weeratunga on behalf of Sri Lanka
and the Chief Executive Officer of Singapore Business Federation, Ho
Meng Kit on behalf of Singapore signed the MoU at Singapore President's
residence, Istana Palace in the presence of President Mahinda Rajapaksa
and Prime Minister of Singapore Lee Hsien Loong.
Under the MoU, the two countries are expected to strengthen the
institutional relations between them.
Accordingly, both organizations will, among other things, promote
joint venture collaborations between their private sectors, create a
congenial atmosphere for business and investment in all economic sectors
of Sri Lanka and Singapore, use their countries as a hub to trade and
invest in the region and exchange investment policies and information
relating to relevant projects.
Singaporean companies are especially keen in investing in real estate
development, information technology, knitting and garment industry and
gem and jewellery manufacture.
Trade between Sri Lanka and Singapore during the year 2011 amounted
to US$ 1.85 billion and after the end of conflict in Sri Lanka, trade
between the two countries has risen by 53 percent.