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Korean Ambassador, BOI discuss investment promotion
Korean Ambassador Santhush Woonjin Jeong met BOI Chairman, Eng. Raja Edirisuriya to discuss ways to attract more Korean investments to Sri Lanka at the Board of Investment premises. BOI Chairman, Eng. Raja Edirisuriya emphasised the importance of boosting foreign investment to overcome Sri Lanka’s current economic challenges.
Attracting more foreign direct investments from Korea and the facilitation of an environment conducive for smooth operations for existing Korean investors were prioritised during the discussion. Korea companies are well known for globally dominating the electronics and computer industry. The BOI Chairman requested the Ambassador to encourage more Korean companies to invest in the electronic and pharmaceutical industries with a particular focus on the pharmaceutical zone that is being developed in Hambanthota.
They also explored ways to engage more Korean companies to invest in the Port City and on water supply projects that are currently underway in Sri Lanka. Particularly, Korean companies are paying attention to the prospect of economic recovery in Sri Lanka to explore more opportunities.
The Ambassador appreciated the efforts of the Sri Lankan Government to establish aspecial investment zone in Sri Lanka for foreign investors including Korean entrepreneurs which would be a clarion call to attract more Foreign Direct Investments from Korea.
Appreciating the continued support given by the BOI, Ambassador Santhush reassured that he would invite potential Korean companies to invest in Sri Lanka and in the meantime solicited the cooperation of the BOI to facilitate long term visas for foreign investors and businessmen including existing Korean investors.
The Korean Embassy will work in close collaboration with the BOI to resolve Korean investors and businessmen’s issues to provide effective solutions and boost more Korean investors in Sri Lanka. Renuka Weerakone, Director General of the BOI and LIM Miyeon, First Secretary of the Korean Embassy were also present at the meeting.