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Japanese firms said keen to invest in Sri Lanka

ECONOMYNEXT – Japanese businesses have shown renewed interest to invest in Sri Lanka, Japanese Ambassador Kenichi Suganuma has told the island’s main business chamber.

The formation of a national government and the new government’s call for investors to invest in Sri Lanka has propelled the new found interest by the Japanese investors, he said at a meeting with the Ceylon Chamber of Commerce.

“There is a prospect of the whole of South Asia growing and many Japanese companies are looking at this part of the world and Sri Lanka is looked at as a hub or a gateway,” Suganuma was quoted as saying in a statement.

Japan has long been one of the biggest investors in and lenders to Sri Lanka apart from giving grants.

Japanese aid and investment has supported infrastructure like ports and airports, highways and power transmission networks.

Since the end of the ethnic war in 2009, more Japanese firms have begun to invest in the island.

Japanese logistics group SG Holdings bought control of Expolanka Holdings in 2014.

More recently Japan’s Mizuho Bank signed an agreement with the Board of Investment to promote Japanese investments to the country.  (Colombo/September 14 2015 – Corrected spot US dollar close 138.80/85)

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