MICCI explores investment opportunities in Sri Lanka

Sri Lanka Board of Investment (BOI) recently held an event to educate members of the Malaysian Indian Chamber Of Commerce And Industry (MICCI) about investment opportunities in the country.

The full-day FDI promotion session also included participation from various stakeholder agencies and ministries, such as the Urban Development Authority, Colombo Port City, Sri Lanka Export Development Board, Information Communication Technology Agency of Sri Lanka, Sri Lanka Sustainable Energy Authority, Department of Commerce, Port City Commission, and CHEC Port City Colombo. 

Dato’ S. Parthiban, President of the Malaysian Indian Chamber of Commerce and Industry in Penang, led a 15-member team to the BOI to explore potential FDI opportunities in Sri Lanka. 

The Malaysian investor team represented a diverse range of sectors, including ICT, banking, value-added agriculture, mining, IT infrastructure (data center development), fast-moving consumer goods (FMCG), manufacturing, healthcare, recycling, semiconductors, waste management, hospitality, business consulting, and biotechnology, along with a representative from the Prime Minister’s department. 

The senior members of the BOI, led by Director General Renuka M. Weerakone, provided a detailed overview of the BOI facility and business ecosystem to the Malaysian investors. They also explained the available investment opportunities and structured projects ready for immediate investment. 

Dr. Hans Wijesuriya, Presidential Advisor on Digital Economy; Sanjaya Karunsena, CEO of Gove Tech; Mangala Wijesinghe, Chairman of the Export Development Board; Raven Wickremasuriya, Director General of the Colombo Port City Economic Commission; CharithaYattogoda, Head of the Trade Promotion Division and Bilateral Affairs; Chaminda Jayasekera, Deputy Director General of the Sri Lanka Sustainable Authority; Bai Xiaping, Assistant Managing Director of the Port City Economic Commission; and other senior officials of the ministries and government agencies also participated. 

The Information and Communication Technology Agency of Sri Lanka presented the national plan for digitally enabling the country and its potential to lead in Industry 4.0 as part of the government’s digital transformation journey, while GovTech Sri Lanka, the lead implementation agency for this transformation, outlined its role in facilitating ease of doing business and the future of digitalization in Sri Lanka. 

The Export Development Board presentation further explains the export development landscape and the opportunity value of “Made in Sri Lanka.” The Urban Development Board explained the urban area development with available land in the heart of Colombo city and commercially viable land for real estate investment with mixed development, education and technology, hotels and tourism, and theme parks. The diverse representation of FDI opportunities led the Malaysian delegation to express interest in the renewable energy sector, specifically solar energy-saving solutions, as well as in ICT infrastructure development, including data centers, networking, cybersecurity, access control, PA systems, BMS, AV systems, and software solutions. 

On the second day (31st March), the delegation met with the Malaysian Business Council at Marine Bay, Colombo. The program also included a visit to the Katunayake Export Processing Zone (EPZ) and a factory visit to KIK, providing firsthand exposure to Sri Lanka’s industrial environment. Overall, the visit enhanced investment cooperation, promoted awareness of key sectors, and facilitated potential partnerships and investment opportunities between the two countries.