North Ireland eyes Lanka for investments

by Nilma DOLE

Eight percent economic growth has seen Sri Lanka growing in economic terms which has opened doors to international investment opportunities. One such country optimistic about investing in Sri Lanka is Northern Ireland.

“We came first in April 2011 and until today, we have seen tangible business partnerships formed between the two countries which have been win-win situations for both,” said the Invest Northern Ireland (INI) Regional Director Barry Clarke.

He said that Sri Lanka is emerging as a trade-rich country with business-friendly opportunities and they are confident of sanctioning trade opportunities so that more countries can join the bandwagon.

“Sri Lanka is hungry to take on business projects and we see sectors such as Information Technology, engineering and tourism booming to a great degree,” he said.

Clarke also said that Nothern Ireland shares with Sri Lanka a position which is small but strategically viable.

“I believe that Sri Lanka’s ethics and values are quite similar as that of Northern Ireland as they both have a history of family businesses and believe in sustainable development,” he said. At present, eight companies have already started reaping profits by investing and trading in Sri Lanka with local partners.

Asphalt Burner Services for the development of asphalt burners, CIGA Healthcare for self-diagnostic products, Full Circle Management which offers consultancy services, Greenfields Ireland dairy products, McCloskey in recycling machinery, RockRoland which is a business consultancy service provider and Mallghan Engineering for airport handling equipment have already tasted success in Sri Lanka.

Clair Gadd, Mission Manager of INI is confident that business ties that have been formed so far with Northern Ireland will lure more corporations to take note of the profit-making opportunities that Sri Lanka can offer.

“It’s more than just a business alliance, in any business venture we deal with people and in business, trust is priority. British High Commissioner, John Rankin said, “We are pleased to have Investors such as Northern Ireland coming back to strengthen ties with their companies and local partners and the hope of forging more business partnerships.