Japan keen on energy, aquaculture sectors

A Japanese delegation visiting Sri Lanka expressed interest in investing in several key sectors including aquaculture, real estate development, energy, electronics and automobile components and other important economic sectors.

A Japanese business delegation consisting of representatives of 28 leading companies visited Sri Lanka to gain first-hand experience of the business and investment climate in Sri Lanka.

The delegation consisted of representatives of leading Japanese enterprises and other companies such as Leo Palace 21, Mitsubishi Corporation, Mizuho Bank, NTT Data, Mitsui and Co. India Pvt Ltd, JGC Musashi Industry Inc, Energy and Technology, Nippon Express, KPMG, Eikei Corporation, NEDO, as well as officials from Japan's Ministry of Economy, Trade and Industry (METI) and the Japanese Embassy in Sri Lanka.

The delegation also met BOI officials to find out the role of the BOI and its process of approving and facilitating Foreign Direct Investments into Sri Lanka.

The BOI was represented by Executive Director, Investment and Promotion, Renuka Weerakone, Director, Media and Publicity, Dilip S. Samarasinghe and Director, Promotion, Nilupul de Silva,

Chairman, Japan-Sri Lanka Business Co-operation Committee and Senior Advisor to Itchu Corporation, Tadayuki Seiki, the leader of the delegation, said the delegation first visited India and extended their visit to Sri Lanka.

The BOI has a strong connection with Japanese enterprises and holds regular fora to address issues which existing Japanese investors may face in the country, the BOI said in a press release.

The Japanese side was briefed on present and future Free Trade Agreements, export opportunities in the region, land ownership for foreign enterprises and the BOI's newly established One-Stop-Shop.

They were also briefed about other investment opportunities such as the Megapolis project where projects valued at about US$40 billion will be available for potential investors. Japan's JICA has already done some feasibility studies on the project.