KUALA LUMPUR, May 16- Sri Lanka, currently rebuilding its infrastructures after 30 years of civil war which ended in 2010, is inviting Malaysian companies to take up the projects being disbursed by the government and the private sector.
Malaysia, the No. 1 foreign investor in Sri Lanka, with a cumulative investment of about US$1.4 billion, is seen as the frontrunner to secure projects in the island state with 20 million population.
Board of Investment of Sri Lanka Executive Director Duminda Ariyasinghe (photo) said Sri Lanka expects to draw about RM2 billion of foreign direct investments this year, with many infrastructure projects to be launched in the tourism sector and highway construction.
“Malaysia is currently doing very well in the Sri Lankan telecommunications sector while many companies have expressed interest in tourism, education, manufacturing and information technology sectors.
“There are a lot more untapped potentials in Sri Lanka. We need more participation of Malaysian companies in new highway projects, road construction, power generation, airports and ports development,” he told Bernama.
Ariyasinghe said the Southern Expressway linking Matara would start by June this year while several power projects were on stream such as the second phase of the Norochcholai Coal Power project and Sampur Coal Power project.
To date, Malaysia accounted for over 16 per cent of the total FDIs of US$8.5 billion into Sri Lanka, with both Malaysia and Singapore making up more than 25 per cent of the country’s total global investment.
Ariyasinghe said that in order to showcase Sri Lanka’s investment prospects to Malaysian investors, its government would like to extend its invitation to Malaysian businessmen to attend the Commonwealth Business Forum 2013 to be held in Colombo from Nov 12-14.
The forum, co-hosted by the Commonwealth Business Council and the Sri Lankan Government, is seen to be a key event to develop stronger partnerships between governments and the private sector to ensure that the Commonwealth plays its part to promote sustainable growth for the benefit of the global society.
“This is a valuable opportunity for a high-level dialogues on trade and
investment between the government and business leaders from the Commonwealth and
beyond.
“It will be very beneficial to Malaysian investors and others to have a look for themselves on the plan that Sri Lanka has for a win-win partnership,” he said.
To be opened by Sri Lankan President Mahinda Rajapaksa, Commonwealth Heads of Government will also speak at the three-day forum.
The forum is expected to bring together over 1,000 participants comprising business leaders, strategic thinkers and policymakers from 60 countries.
Sri Lanka, officially the Democratic Socialist Republic of Sri Lanka, is an island state in the northern Indian Ocean off the southern coast of the Indian sub-continent in South Asia.
Known until 1972 as Ceylon, the country has maritime borders with India to the north-west and the Maldives to the south-west.
– BERNAMA
