SLKECC President emphasizes importance of attracting FDIs to Sri Lanka

Seated from left: Yong-Duk, Kim, Director General, KOTRA Sri Lanka, His Excellency Won- sam Chang, Ambassador, Embassy of Korea, Mahen Kariyawasan - President SLKECC (Andrew the Travel Company Pvt Ltd.),  Lilakshi de Mel, the Ceylon Chamber of Commerce, Prof. Lakshman R. Watawala, Immediate Past President, Priyantha Mendis (Alpha Tours Ltd. Vice President. Standing from left - Committee Members 
Chamara Udugama (Southern Tea Producers Pvt Ltd.), Nuwan Wimalana (Delmege Forsyth & Co. Ltd.),   Ananda Sirisekera (Ranara Engineering Services Pvt Ltd.), S.C. Byun (South Lighting Lanka (Pvt) Ltd.), Godwin Perera (Vaughan Chemicals Pvt) Ltd.), K. Kunendran (Abans Plc), Christopher Chandiram(AccessInternational Projects Pvt.  Ltd.), Iqram Cuttilan (Aitken Spence Shipping Ltd.)

The 22nd Annual General Meeting and the Interactive Session on “Opportunities for Partnerships with Korea through the Megapolis Project”, organized by the Sri Lanka – Korea Economic Co-operation Committee (SLKECC) of the Ceylon Chamber of Commerce was held on 23rd August  at the Hilton Colombo Residences.

The re-elected President of the Sri Lanka – Korea Economic Co-operation Committee, Mahen Kariyawasan emphasized the importance of collaborating with Korean Companies to further strengthen trade, investment and tourism between Sri Lanka and Korea. 

Kariyawsan stated that the recent visit of Patali Champika Ranawaka, Minister of Megapolis and Western Development to Korea has open a new road for companies engaged in the construction industry to collaborate jointly to take part in the accelerated Megapolis and Western Development projectsin Sri Lanka.

The Chief Guest of the event, Won-sam Chang, Ambassador for Korea in  Sri Lanka stated that a framework arrangement enabling the Government of Sri Lanka to obtain soft loans from the Government of South Korea up to U$ 300 million till 2018 was signed on July 13, 2016. This framework arrangement is based on the agreement between the two governments signed in December 1995 concerning Loans from the Economic Development Co-operation Fund (EDCF) to develop a diverse range of projects in sectors as transportation, education, water treatment, and rural development, identified as the priority areas under the Country Partnership Strategy between Korea and Sri Lanka. 

Addressing the gathering, the Guest of Honour Minister of Megapolis and Western Development stated that “Considering  the potentials of geographic location, international opportunities and our demography we need to select strategies as how to move forward, not to satisfy surreptitious cries but for the true and due future of the people in this country. This government created  Ministry of Megapolis and Western Development to develop the whole Western Region which includes the western shore and sea, in a well distributed, integrated, meaningful and sustainable manner, as part of this mission”.

The Minister extended an invitation to Korean investors to take part in this transformation. Korean companies can use Colombo business center as a warehouse to sell our Korean high tech products to south west Asia, Middle East and Africa. You may establish assembling lines using our relatively cheap but highly literate labor and 24x365 available electricity, to improve your competitive edge. Our Horana & Meerigama industrial estates can provide those economically. The free trade agreements signed with our neighboring countries will open up a larger market.  

The Ceylon Chamber of Commerce at the request of the Minister set up the Sri Lanka - Korea Economic Co-operation on 4th November 1982, in Colombo, Sri Lanka. The main objective of the Sri Lanka – Korea Economic Co-operation Committee is to promote and further strengthen trade, investment and tourism between Sri Lanka and Korea.