Sri Lanka Embassy in Bangkok and Thailand Board of Investment make awareness on Sri Lanka-Thailand Free Trade Agreement (SLTFTA) and Investment opportunities in Sri Lanka

Recently, the Embassy and Permanent Mission of Sri Lanka in collaboration with the Board of Investment of Thailand organised an awareness programme on the benefits of the Sri Lanka-Thailand Free Trade Agreement (SLTFTA) and investment opportunities in Sri Lanka under the theme “Sri Lanka: The Future for Investment” at the One Start One Stop Investment Center (OSOS) of the Thailand BOI.

Ambassador of Sri Lanka and Permanent Representative to UNESCAP, C. A. Chaminda I. Colonne, in her opening remarks highlighted on the economic hurdles Sri Lanka has encountered and elaborated the government’s proactive steps to tackle the crisis and revitalizing the economy. While stating the newly signed Sri Lanka-Thailand Free Trade Agreement is expected to boost trade and investment ties between the two countries and promote deeper integration with ASEAN economies, Ambassador Colonne extended a warm invitation to Thai investors to explore the diverse investment prospects that the country offers.

The Deputy Secretary General of the Board of Investment of Thailand, Narucha Ruchuphan highlighted on the newly signed Free Trade Agreement between the two countries and stated that Thai enterprises could explore the potential market like Sri Lanka, as one of the significant emerging markets. He further emphasized that Sri Lanka is situated strategically at the crossroads in Indian Ocean, connected to South Asia, Middle East, and also Africa and is enriched with natural resources such as jewellery, aquaculture and minerals which are all the generally used raw materials in Thai Industries. He further added that Sri Lanka nowadays, has achieved a progress in recovering the economic crisis in a positive turn from the severe financial crisis with its investment policy geared towards shifting to reform investment environment to facilitate foreign investors and Sri Lanka undoubtedly has become more attractive to investors from over the world.

The Director General of the Board of Investment of Sri Lanka, Renuka Weerakone presented an overview of the business climate in Sri Lanka as well as investment opportunities in ready to invest projects in tourism, mixed development, renewable energy and fisheries sectors. She also shared recent key initiatives of the BOI Sri Lanka such as the Investor Facilitation Centre to expedite project approvals along with the ongoing digitization for enhanced facilitation of BOI services and the “Partnership Finder” database; an independent platform hosted on the BOI web portal for the benefit of investors. She also elaborated on the recently signed Sri Lanka-Thailand Free Trade Agreement highlighting the benefits offered to investors through the FTA.

Executive Director, Thai Entrepreneurship Division of the Thailand Board of Investment, Patcharada Nawakawongkarn, Senior officials of the Urban Development Authority, Ceylon Electricity Board and National Aquaculture Development Authority joined the event online and presented the investment opportunities available in the renewable energy, aquaculture, mixed development, hospitality and tourism, logistics, IT based development, educational development and entertainment in Sri Lanka. Senior representatives of Siam City Cement PCL, Bischoff Gamma Company Ltd and Minor International PCL renowned Thai investors in Sri Lanka and CP Foods PCL shared their success stories in doing business with Sri Lanka. First Secretary A.W.S. Samanmali and First Secretary (Commercial) Vireshika Bandara were also joined from the Mission.

More than 30 Thai and international prominent investors highly appreciated the awareness programme and made keen interest on investing in Sri Lanka to leverage the benefits offered under the Sri Lanka-Thailand Free Trade Agreement.

Embassy and Permanent Mission of Sri Lanka
Bangkok
29th April 2024