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| Sunday, 15 June 2003 |
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Business seminar in Japan a resounding success Bharatha Malawaraarachchi reporting from Tokyo The Sri Lanka Business Opportunities Seminar held in Japan following the donor conference was a resounding success, with the auditorium at the Japan Bank for International Cooperation filled to capacity with more than 160 Japanese investors. The Ministry of Enterprise Development and Board of Investment-sponsored seminar drew a very good response from the Japanese business community in the aftermath of the donor conference, where donor countries and agencies pledged a massive US$ 4.5 billion for reconstruction projects. A high level Sri Lankan delegation comprising 20 business people attended the seminar. Addressing the delegates, Prime Minister Ranil Wickremesinghe said a massive injection of foreign capital and know-how will help Sri Lanka to accelerate its socio-economic recovery after two decades of inactivity. Wickremesinghe said Sri Lanka will offer "a highly competitive investment climate". The Regaining Sri Lanka initiative has mobilised public/private sector task forces in sectors ranging from agriculture to financial services, he told the seminar. The Government is exploring the possibility of a deeper multi-faceted economic partnership with Japan on a structural basis, the Prime Minister said, noting that Japanese contractors were upgrading Colombo's international airport and will soon be helping build the Colombo - Matara super highway. "Our plans for regulatory reform go far beyond institutional trimming and we are vigorously lowering regulatory barriers from corporate taxes to customs duties to labour constrains." Minister of Enterprise Development, Industrial Policy and Investment Promotion Prof G.L. Peiris, while explaining the incentives extended to investors, urged the participating investors to take a close look at the investment opportunities available in Sri Lanka. The Minister said: "The peace process enables us to make the maximum use of the natural advantages that Sri Lanka has had for a long time such as the geographical location, unique calibre of human resources and an entrenched tradition with regard to the market economy". The Government is restructuring the Board of Investment to cater to regional priorities and prevent delays, he said. |
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