Japanese MPs on investment, tourism promotion mission

Japanese investments and tourist arrivals to Sri Lanka will increase in the future as the security situation and the investment climate in the country has improved, said the Chairman of the Democratic Party of Japan (DPJ) - Japan Sri Lanka Friendship Parliamentary League Hirofumi Hirano.

A delegation of Members of the House of Representatives of Japan led by Hirano was on a visit to Sri Lanka last week.

"We visited the North and East and had the opportunity to see the present situation in the country. We will definitely give this message to the people in Japan", Hirano said.

"We met the members of the Sri Lanka Japan Chamber of Commerce and obtained their views.

There are many Japanese investors here including some of the leading Japanese companies and they appreciate the support they receive from the government of Sri Lanka and the BOI. However, some critical issues may discourage investing in Sri Lanka. They said that delay in VAT refund and increasing electricity tariff have a great impact on their business.

Normally new Japanese investors get the opinion of existing investors on the situation in the country and therefore these issues will negatively affect investment decisions", he said.

Hirano said that the Japanese government and Japanese companies will discuss with the government of Sri Lanka on how to increase Japanese investment in Sri Lanka.

A joint forum will be held in next year. Tourist arrivals from Japan will increase. There are a lot of attractive places in Sri Lanka to visit, he said.

The delegation met the Deputy Minister of Economic Development Lakshman Yapa Abayawardena and BOI officials.

The BOI and the Sri Lanka Tourism Promotion Bureau presented potentials for investment and tourism promotion in the country.

The Deputy Minister said that Japan and Sri Lanka have long established relations and Japan is a main development partner of Sri Lanka. (GW)