President invites Saudi Arabia to invest in several sectors


President Gotabaya Rajapaksa is inviting Saudi Arabia to make direct investments in several sectors in Sri Lanka.

He point out the opportunities available for investment in agriculture, renewable energy generation, technology-based development and the Colombo Port City.

President Rajapaksa has had a meeting with the visiting Foreign Affairs Minister of Saudi Arabia  Faisal bin Farhan Al Saud at the Presidential Secretariat.

Prince Al Saud was briefed on the impact of the Covid-19 pandemic on the Sri Lankan economy. 

The President also pointed out the impact of low remittances, the collapse of the tourism industry, the impact of dry weather on hydropower generation and the rising demand for fuel.

The Saudi Foreign Minister said that his country was also paying special attention to renewable energy generation and that they are ready to assist Sri Lanka in this sector.

The two parties also discussed further strengthening of bilateral relations in a number of areas.