Japanese investors optimistic about opportunities in Sri Lanka

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The Grandbell Hotel Colombo, a Board of Investment (BOI) approved USD 60 million worth Japanese investment visible in the heart of Colombo, recently opened its doors welcoming all to experience a fusion of Japanese and Sri Lankan hospitality. The hotel is also another feature that depicts the traditional bond shared by the two countries, which goes beyond business.

In a situation where Sri Lanka has undergone major economic setbacks, the BOI, as the apex organisation for promoting foreign direct investment in Sri Lanka,has a mammoth role to play in the endeavour to sustain the faith of investors. For that, the BOI goes an extra mile in a bid to create a favourable atmosphere for new investors so that more investments can be attracted. Against this backdrop, the positive intent and high confidence shown by the management of the Granbell Hotel towards the desire to invest in Sri Lanka, is indeed inspiring and uplifting.

BOI Director General Renuka M. Weerakone stated that,“the BOI is currently growing in confidence amid challenges and the trust conveyed by the Japanese investors upon Sri Lankan management and workers with their unblemished record in the history, is a great encouragement as we move forward”.

“Furthermore, the smooth-running of the BOI is also evident with the number of new contracts signed in this month amounting to 13, inclusive of three major projects,”

“A USD 8 million investment by KSPA Embilipitiya Paper Mills (Pvt.) Ltd, USD 1 million investment by Koggala Apparel Manufactures (Pvt.) Ltd andUSD 4.5 million investment by One Apparels Corporation Ltd are among the major contracts signed by the BOI recently. The 1 million-investment by Koggala Apparel Manufactures (Pvt.) Ltd andUSD 4.5 million investment One Apparels Corporation Ltd will generate 1,500 and 2,000 job opportunities for Sri Lankans respectively,” Weerakone explained.

“In addition, I am also confident that the newly openedGranbell Hotel would turn out to be a fabulous platform where new job opportunities are created for Sri Lankans, with over 60 Sri Lankans are already employed in the hotel,” she said.

“The BOI is looking forward to working hand in hand with all relevant stakeholders to put things on track in order to further ensure that Sri Lanka becomes the preferred destination for investment in the region,”Weerakone stressed.