Malaysians keen on joint venture with Lanka

Malaysian delegation expressed their interest to invest and have joint ventures on property development, construction industry, agro based industry, fisheries, freight forwarding from Hambanthota and Colombo ports, E commerce, IT service and hospital supplies.

A high level business delegation led by Dato Syed Ali Alattas, the President of the National Chamber of Commerce and Industry of Malaysia met Basil Rajapaksa, Minister of Economic Development at the Ministry of Economic Development. The delegation is visiting Sri Lanka to explore the possibilities of trade and investment opportunity in Sri Lanka.

Dato Syed Ali Alattas, head of the delegation said next month they will form the Malaysia Sri Lanka business council in Malaysia.

He enquired about the possibilities of setting up assembly lines for various Malaysian products in Sri Lanka. “Labor shortage in Malaysia encourages many industries to set up their plants in countries like Sri Lanka,” he said. At the discussion Basil Rajapaksa said at present economic cooperation between the two countries is standing at a high level. Many Malaysian investors came to Sri Lanka during the past few years and now they are very successful in operating in Sri Lanka. In some instances highest investment in Sri Lanka came from Malaysia. “Biggest foreign investor in Sri Lankan telecommunication sector is Malaysia,” he said.

Basil Rajapaksa said Sri Lanka government is going to develop tourism as a major economic sector of the country. After the end of terrorism many hotels were opened at Pasikuda and Kuchchaveli tourism zones while major tourism development projects will come up in Kalpitiya and Delft Island.

“There are big potential for hotels, skill development, shopping malls and recreational facilities in relation to the tourism sector,” he said.

The National Chamber of Commerce and Industry of Malaysia is the umbrella platform comprising of five principles Malaysian privet sector organizations concerned with commerce and industry.

They are Malay Chamber of Commerce Malaysia, the Associated Chinese Chamber of Commerce and Industry of Malaysia, Malaysian Associated Indian Chamber of Commerce and Industry of Malaysia, Malaysian International Chamber of Commerce and Industry, Federation of Malaysian Manufactures.