As a developing country, Sri Lanka critically needs foreign investment to further advance, former Ambassador to the United Nations and Secretary to the Ministry of Foreign Affairs Dr. Palitha Kohona said Thursday.
He was speaking at a press briefing for an upcoming business seminar, the Sri Lanka Economic and Investment Conclave.Kohona said that although there are other countries in the developing world competing for foreign investment, Sri Lanka’s high rate of education, infrastructure, and connectivity make it a valuable place to do business.
“The potential in this country is quite extensive,” he said.
Kohona made pitches to both China and India, regional powers that often jockey for geopolitical influence in Sri Lanka, arguing that the country could accommodate business from both players.
On the one hand, “Sri Lanka has been the southern tip of the Silk Road for 2,000 years,” he said. It therefore is a natural fit in China’s “One Belt One Road” global development strategy linking China to the Gulf states and East Africa.
On the other, Sri Lanka has free trade agreements with both India and Pakistan, making it “the gateway to India,” he said. “It’s important at this stage to make the world investing community aware of what is available.”
The Sri Lanka Economic and Investment Conclave will be held at the Kingsbury Hotel on November 28 and 29, and host business leaders from seven countries, event organizers said.
It is sponsored by the Federation of Industry and Commerce of China, the Colombo Chamber of Commerce, and the Indian Chamber of Commerce. Kohona will deliver the welcome remarks.
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