‘Japan keen to invest in SL’s fisheries industry’
Vishmi Wijeratne
Sri Lanka in its reach for Foreign Direct Investments, have managed
benefit from the country’s sixty year old trade relationship between Sri
Lanka thus creating many exciting opportunities for Sri Lanka. Japan
noticing the countries renewed position after the war has stirred
interests in Ayurvadic medicine, fish and much more.
“A number of opportunities for developing Japan-SL investment links
have arisen in the last few years. These should be encouraged and every
effort made to bring such plans to fruition: Japan’s ‘Tuna King’ Kiyoshi
Kimura recently visited SL and has agreed both to invest in SL’s
fisheries industry and to provide technical assistance to develop the
industry, A group of Japanese investors visited SL earlier this year to
look into the possibility of introducing Ayurvedic medicine into elders’
homes in Japan, for the purpose of treating various illnesses, skin
diseases and birth defects.
They also plan to open 500 Ayurvedic Spa centres in Japan and
possibly, some in Sri Lanka,” Saman Kalegama of the Institute of policy
studies in Sri Lanka said in his presentation at the 17th Joint Meeting
of The Sri Lanka – Japan and Japan Sri Lanka- Business Co-operation
committees, said.He said in his presentation that Teoria Investment Co.
Ltd recently tied up with a local company to form Shinagawa J Capital (pvt.)
Ltd., to invest in hotel property down-South Sri Lanka. Bansaj
Securities, a leading Tokyo investment house, plans to invest JPY 10
billion (about US $ 125 million) in SL government treasury bills and
bonds over the next year, Efforts are being made to encourage Japanese
investment in the apparels and hand-loom sector. A national Handlooms
Task Force has been set up for this purpose.
“Zuc International plans to open a solar panel factory in Mirigama in
early 2013, and to set up a 10 MW power plant that involves an
investment of nearly US $ 50 million. The Japanese government has
enlisted a construction industry specialist to conduct a study of
prospects, opportunities and trends in SL’s property and real estate
market, as well as of its business and investment climate. Thus it is
evident that Sri Lanka and Japan will be able to benefit from many
investments made in Sri Lanka,” he said
Sri Lanka and Japan has many trade enhancement opportunities since
Japan is primarily in low skill and labour incentive goods.
However Sri Lanka has failed in grasping trade opportunities in Japan
which many of our neighboring countries have achieved.
The garment exports to japan had been largely undervalued to a mere
US $ 19.4 million in year 2010. Sri Lanka can do much better in this
field, also efforts need be made to promote Sri Lankan goods in Japan.
“Though 20,000 Japanese tourists arrived in Sri Lanka the country
needs to understand and determine what attracts more Japanese tourists
for an example more golf fields, religion based tourism. To attract more
Japanese tourists Sri Lanka tourist sector workers need to be trained
into speaking Japanese, Sri Lanka also has an opportunity to export
health workers to Japan to tend to the aging population,” he said.
According to the United Nations Conference on Trade and Development (UNCTAD)
highlighted that a sudden increase of foreign direct investment (FDI)
from japan in 2011, Sri Lanka should reach out to this opportunity.
Sri Lanka has a number of fields for FDI like, Apparel, ITO/BPO
services and outsourcing, call centres, agriculture, agro processing &
agro technology, fresh vegetables & fruit exports, shipping & logistic,
motor vehicle assembly, warehousing, cold stores, deep sea fishing, fish
canning processing industries, urban commercial leisure and property
development, marina related property development, tourist transportation
& leisure activities. |
