Japan’s largest bank BTMU to open office in Sri Lanka

30 October 2015 05:20 am - 0 - {{hitsCtrl.values.hits}}

A A A

Sri Lanka’s Board of Investments (BOI) yesterday said Japan’s Bank of Tokyo Mitsubishi UFG Ltd (BTMU) would be opening a representative office in Sri Lanka March next year to facilitate Japanese investments to the country.
The opening of the representative office in Sri Lanka is however will be subject to regulatory approvals in Japan.
The initial Memorandum of Understanding (MOU) to set up a BTMU representative office in Sri Lanka was signed between BTMU and BOI in 2014.
Under this MOU, BTMU agreed that it would promote Japanese investments in Sri Lanka and foster business partnerships between Sri Lankan and Japanese entrepreneurs.
BOI in return agreed to collaborate with BTMU in hosting seminars to inform Japanese companies of FDI opportunities in Sri Lanka, communicate with BTMU on upcoming projects and especially to attract industrial investments in Sri Lanka.
Several BOI seminars have already been held in Japan. BTMU also agreed to steer Japanese companies to seminars held by the BOI and to introduce Japanese investors on a personal level and facilitate meetings between the two countries, specially between investors and prospective projects.
In a statement issued by BTMU, Sri Lanka has been described as a country “enjoying high economic growth rate of 6 percent to 8 percent per annum, largely driven by rising demand for infrastructure, construction and flourishing tourism.
The statement also stated that “Sri Lanka is neighbour to India which is also rapidly developing, is located astride the strategic sea lanes which connects Asia with the Middle East and Africa.”
The Bank also noted that there are more than 100 Japanese corporates that have been investing in Sri Lanka and more investments were expected.
BTMU is the largest bank in Japan established on January 1st 2006 with the merger of Bank of Tokyo Mitsubishi Ltd and UFJ Bank Ltd., It has a strong client base among leading Japanese corporates.

Order Gifts and Flowers to Sri Lanka. See Kapruka's top selling online shopping categories such as Toys, Grocery, Kids Toys, Birthday Cakes, Fruits, Chocolates, Clothing and Electronics. Also see Kapruka's unique online services such as Money Remittence,Astrology, Courier/Delivery, Medicine Delivery and over 700 top brands. Also get products from Amazon & Ebay via Kapruka Gloabal Shop into Sri Lanka

Comments - 0

Add comment
Comments will be edited (grammar, spelling and slang) and authorized at the discretion of Daily Mirror online. The website also has the right not to publish selected comments.

Japan’s largest bank BTMU to open office in Sri Lanka

Comments - 0

Add comment

RECOMMENDED

UDA owned land in Thalawathugoda; UDA Minister Prasanna Ranatunga under the spotlight for forceful occupation of reserved land

Loss-making SMIB faces political pressure in recovering loans

Baltimore Bridge Collapse: MV Dali, SL authorities anchored in mystery?

Has Sri Lanka become a potential hub for the illegal wildlife trade?

Spotlight on Moragahakanda Development Project Moragolla villagers lose livelihoods and down to one meal a day

Ambitious Sri Lankan jobseekers ‘trafficked into Ukraine war zones’

Western purple-faced langurs see blue!

Most Viewed in News

SL on alert on possible genocide allegations by Canada

Sri Lankan among NASA’s new crew for next simulated Mars journey

Two racing drivers arrested over Fox Hill tragedy

Ranil Wickremesinghe caravan moves on despite barking dogs

A US “Kaputa”, a Lankan “Nariya” and a Presidential “Feast”

Racing event tragedy leaves seven dead including eight-year-old child

MIRROR CRICKET

Athapaththu back atop ICC Women’s ODI Batting Rankings

Chamari Athapaththu sets big goal for T20 World Cup

How does CSK get best out of Pathirana?

Mendis, Mathews move up in ICC Test Rankings

TODAY'S HEADLINES

United States and SL Navy collaborate in CARAT 2024 exercise in Trincomalee

Upcountry estate workers stage a token strike

People have already selected Ranil for Presidency: Prasanna

Construction work for India-funded 10,000 housing units commenced

Athapaththu back atop ICC Women’s ODI Batting Rankings

Army forms committee to probe Diyatalawa Fox Hill Supercross accident

Indian cricket manager indicted for Legend Cricket League match-fixing allegations

Peter’s beat Royal to claim championship