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SL economic turnaround opens Pakistani investment opportunities

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A 14 member high level business delegation from Pakistan is in Sri Lanka exploring investment opportunities in several high profile manufacturing including e-batteries and e- bikes.

Honorary Consul Sri Lanka in Lahore who led this delegation said that today Sri Lanka has made a dramatic economic turnaround after facing its worst economic crisis last year.

“This transformation has opened up several investment opportunities and this along with the friendly investment climate made us visit Sri Lanka and explore investments. In addition, the strangling of the Sri Lanka rupees against the dollar makes good business sense for us to invest in Sri Lanka.”

He also said that they already met Minister of Foreign Affairs Ali Sabry, Chairman Board of Investment Dinesh Weerakkody and had a successful ‘B to B’ meeting arranged by the Ceylon Chamber of Commerce yesterday.The delegation is also looking at manufacturing electrical and home appliances like manufacturing air coolers, fans, washing machines and other electronic items. “In addition we are looking at manufacturing e- batteries and e-bikes.We want to market these items in Sri Lanka and re-export to the region as well.”

Gujranwala is located in the Punjab province of Pakistan and is renowned for its vibrant industrial sector.

“We are keen to find local partners who are already engaged in these businesses to form Joint ventures. The otherbusiness areas include, Textile & Apparel Sector to Export fabrics, denim and knitwear products, steel products,yarns, carpets, sports goods manufacturing, (footballs, tennis balls, cricket bats etc) manufacture and re export of automotive and auto parts, fabrics, (cotton, viscose and polyester) and hotel suppliers.

Meanwhile Chairman Gujranwala Business Center Ahmad Ikram Lone said that they also inked a MoU with Chamber of Tourism and Industry Sri Lanka A. M. Jauffer who coordinated this tour. “This MoU is to bring Pakistani tourists to Sri Lanka. We are also meeting Chairman Sri Lanka Tourism Promotion Bureau Chalaka Gajabahu today and senior Tourism Ministry officials to further discuss plans to promote inbound tourism from Pakistan.”

Jauffer said that he had been in talks with Gujranwala Business Center for the past three years but the visit did not take off due to issues such as C-19, Easter Sunday attacks and the economic crisis in Sri Lanka. Trade and investment attaché Pakistan Embassy in Sri Lanka, Mahwas Sami and several other senior government officials also met with the delegation which leaves on Sunday.

 

The post SL economic turnaround opens Pakistani investment opportunities appeared first on DailyNews.

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