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British entrepreneurs keen to invest in Lanka’s higher education sector

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Sri Lanka Business Drive 2024 roundtable held:
Interest towards ICT driven investments expressed:

Several British entrepreneurs were keen to invest in Sri Lanka mainly in the advanced higher education sector, said Sri Lankan High Commissioner to the United Kingdom Rohitha Bogollagama.

High Commissioner Bogollagama said this subsequent to hosting ‘Sri Lanka Business Drive 2024’, an interactive Roundtable discussion in collaboration with the Commonwealth Enterprise and Investment Council (CWEIC) at the ‘Ratnadeepa Hall’ of Sri Lanka High Commission, London.

The main drive of this event was to foster collaboration, dialogue and knowledge-sharing on investment opportunities between Sri Lanka and the UK business community. The roundtable brought together a gathering of 30 leading UK business personalities, capital representatives, investment advisors, financial experts, and existing potential investors, including the top management of De La Rue, Capital Metals PLC, Sri Lanka – UK Chamber of Commerce, Thema Collection, Virtusa, Chartered Institute of Investment and Securities, Orwell Group, iBank, Ventra Group, Hypower Engineering, Enpure Ltd etc.

“Some of the British investors who attended the event are looking at setting up a digital university in Sri Lanka. “In addition they also expressed interest towards ICT driven investments which would specifically focus on setting up a Generative Artificial Intelligence (AI) Hub in the Colombo Port City.”

At the ‘Sri Lanka Business Drive 2024’, British companies also wanted more information on investment facilitation offered for potential investors by the BOI in the Free Trade Zone in Sri Lanka and Port City including tax incentives, absorption of Sri Lankan talent and guaranteed employee welfare in Sri Lanka etc and legislative structure.

The participants were engaged in an interactive dialogue raising their questions, concerns and testimonials on their experience in investing in Sri Lanka. Joining this round table discussion virtually from Sri Lanka, were Chairman of the Ceylon Chamber of Commerce, Duminda Hulangamuwa, Executive Director, Board of Investments of Sri Lanka Prasanjith Wijayatilake, and Director – Legal, Colombo Port City Economic Commission Vindhya Weerasekera, discussed specifically on the tax regime of Sri Lanka, opportunities to invest in Sri Lanka under the BOI and the newly developed Colombo Port City Project.

This series of investment roundtable sessions will serve as a platform to explore and strengthen partnerships, exchange insights, and discuss the evolving landscape of investment in Sri Lanka.

“We look forward to hosting similar events, contributing to the advancement of economic collaboration and creating new opportunities for growth and development, particularly at a time where Sri Lanka is looking for its commercial and economic trajectories in the ongoing economic recovery processes.” The event was followed by a networking reception.

(SS)

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