In a bid to strengthen economic cooperation between Sri Lanka and Japan, State Minister for Investment Promotion, Dilum Amunugama, has taken proactive steps to attract high-net-worth Japanese investors to the Bingiriya Investment Zone, heralding a new era of bilateral partnership.
Following the successful visit of President [President's Name] to Japan, where discussions on bilateral investment opportunities took center stage, Minister Amunugama has directed officials of the Sri Lanka Board of Investment to expedite the development of the second and third phases of the Bingiriya Investment Zone.
The move comes as a response to the growing interest among Japanese investors keen on contributing to Sri Lanka's economic growth trajectory. Minister Amunugama emphasized the need for seamless facilities and support for Japanese investors during their ventures in Sri Lanka, underscoring the country's commitment to fostering a conducive investment environment.
A recent progress review meeting at the Bingiriya Export Processing Zone further underscored the government's dedication to facilitating investment activities. The meeting, attended by key stakeholders including Minister of Investment Promotion Secretary M M Naimudeen and Director General of Sri Lanka Board of Investment Renuka Weerakoon, highlighted ongoing projects within the Bingiriya Investment Zone, totaling an investment value of approximately fifty million US dollars.
The Bingiriya Investment Zone, spanning across 160 acres in the first phase, 282 acres in the second phase, and 650 acres in the third phase, offers abundant opportunities for investment and development. Minister Amunugama stressed that the expansion of the investment zone would not only create direct employment opportunities for local youth but also stimulate the growth of service-oriented businesses, thereby catalyzing regional economic development.
Moreover, he emphasized the significance of infrastructure enhancements, particularly road development, to accommodate the influx of investment and ensure the sustainability of the investment zone. With concerted efforts underway to welcome Japanese investors and enhance the investment climate, Sri Lanka aims to solidify its position as an attractive destination for foreign investment, fostering mutual prosperity and growth.
