Belgium delegation looking to invest in Lanka

A business delegation from Wallonia, the French speaking region of Belgium now in Sri Lanka have expressed interest in evaluating investments in food processing and IT and IT-enabled services.

Those two areas are also thrust sectors for the BOI, which is actively promoting investments in agriculture and agro- industries and also IT and BPO type operations. The delegation expressed interest in the possibility of expanding trade and investment in Sri Lanka. The discussion covered a wide range of subjects such as the current status of Belgian Investment in Sri Lanka.

Though Belgium is a comparatively small country in Europe, she has emerged as an important investor in Sri Lanka with a number of reputed enterprises having already established projects in the country. At present, Belgian investments range from the manufacture of solid rubber tires, to diamond cutting and the manufacture of cigars for export. Economic relations have been enhanced by double taxation and investment protection agreements between Sri Lanka and Belgium.