An economic forum organized by the German Business Chamber (A H K) was held in Colombo recently.
State Minister for Investment Promotion, Keheliya Rambukwella, Ambassador of Germany to Sri Lanka, Jorn Rohde, Head of Division Mobility Concepts, Transport Policy, German Federal Government Dr. Stefan Hesselman and 27 leading German enterprises including several existing investors in Sri Lanka operating under the BOI participated. These German companies included Allianz Insurance, Hafele, DHL, Deutsche Bank, Mercedes Benz, Siemens and Continental Tires.
The meeting was very significant as most of the participants indicated renewed interest on the part of German enterprises to evaluate possibilities of investing in Sri Lanka.
One promising area is the possibility of the leading German tyre manufacturer Continental tyres, expanding its current investment in Sri Lanka in Kalutara. This will result in doubling of its production. This project will be promoted by the BOI.
Another area, which the Minister pointed out as huge future potential was tourism. The participation of the TUI Head for Asia at the meeting also underscored this point. TUI is Germany’s leading travel company and the largest in the world.
“Hence it is very significant that this company held discussions with Minister Rambukwella and expressed support and interest in Sri Lanka, despite recent Global concerns due to the Corona Virus,” an official from AHK said.
Two other companies, Hafele which manufacture furniture fittings for the global market and Siemens, the German Engineering giant, also expressed interest in opportunities of undertaking projects relating to infrastructure and manufacture.
Minister Rambukwella said that President Gotabaya Rajapaksa wanted a very close connection with German companies interested in investing in Sri Lanka and had asked him to hold individual meetings with them, to facilitate their investment in Sri Lanka.
German companies present stated that they would welcome an extension of the validity period of the visa granted to foreigners, from the present validity of one year. They also indicated that the rules concerning health certificates for foreigners also need to be relaxed to create a business friendly atmosphere in Sri Lanka.
The meeting provided a valuable dialogue which will form the basis for greater trade and investment from Germany to Sri Lanka.
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