Sri Lanka invites more Bangladeshi investments
Friday, 24 October 2008
FE Report
The Sri Lankan government Wednesday invited Bangladesh companies to invest more in the South Asian island country.
Sri Lankan High Commissioner in Bangladesh Vadivel Krishnamoorthy at a press conference, arranged by Sri Lanka-Bangladesh Chamber of Commerce and Industry (SLBCCI) on the day, offered the invitation.
Inviting the Bangladeshi entrepreneurs to invest in a large scale in the island country, the Sri Lankan envoy asserted, "Despite the archetypal international perception of the island as a civil war torn nation recent history shows that most of the regions and especially the capital Colombo is a safe haven for foreign investment".
"Bangladeshi pharmaceutical products have already gained substantial market in Sri Lanka," with a number of prominent Bangladeshi pharmaceutical companies opening their representative country offices in Colombo," the envoy said.
"Bangladeshi entrepreneurs could even set up jute bag industries in Sri Lanka," he said while disclosing that Sri Lanka, which banned the use of polythene bags lately, offered a burgeoning market for jute bags and other jute products.
"Now if any private enterprise comes forward with initiatives to export or invest in jute products, the Sri Lankan government is ready to facilitate this," he affirmed.
"Foreign direct investment (FDI) in Bangladesh from Sri Lanka has increased significantly in recent years," Vadivel said. "It rose by $ 2.63 million in 2006, while the accumulated estimated investment in Bangladesh from Sri Lanka till date stood at $ 50 million, mostly in RMG sector, banks and hotels," he disclosed.
Earlier, dwelling on the recent trade and business relation between the two countries, the SLBCCI officials stressed the need for signing a free trade agreement (FTA) between the two countries and for exploring the potential of tourism in both nations.
The Sri Lankan government Wednesday invited Bangladesh companies to invest more in the South Asian island country.
Sri Lankan High Commissioner in Bangladesh Vadivel Krishnamoorthy at a press conference, arranged by Sri Lanka-Bangladesh Chamber of Commerce and Industry (SLBCCI) on the day, offered the invitation.
Inviting the Bangladeshi entrepreneurs to invest in a large scale in the island country, the Sri Lankan envoy asserted, "Despite the archetypal international perception of the island as a civil war torn nation recent history shows that most of the regions and especially the capital Colombo is a safe haven for foreign investment".
"Bangladeshi pharmaceutical products have already gained substantial market in Sri Lanka," with a number of prominent Bangladeshi pharmaceutical companies opening their representative country offices in Colombo," the envoy said.
"Bangladeshi entrepreneurs could even set up jute bag industries in Sri Lanka," he said while disclosing that Sri Lanka, which banned the use of polythene bags lately, offered a burgeoning market for jute bags and other jute products.
"Now if any private enterprise comes forward with initiatives to export or invest in jute products, the Sri Lankan government is ready to facilitate this," he affirmed.
"Foreign direct investment (FDI) in Bangladesh from Sri Lanka has increased significantly in recent years," Vadivel said. "It rose by $ 2.63 million in 2006, while the accumulated estimated investment in Bangladesh from Sri Lanka till date stood at $ 50 million, mostly in RMG sector, banks and hotels," he disclosed.
Earlier, dwelling on the recent trade and business relation between the two countries, the SLBCCI officials stressed the need for signing a free trade agreement (FTA) between the two countries and for exploring the potential of tourism in both nations.