Tuesday, September 11, 2012

South Africa to make US$ 122 M initial investment in Sri Lanka

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South Africa, is to make an initial investment of 122 Million U.S.Dollars.  The South African High Commissioner in Sri Lanka Geoff Doidge made this announcement addressing the special dinner event hosted by the Export Development Board of the Ministry of Industry and Commerce in honour of the visiting high level South African business delegation to Sri Lanka.

30 Members of Business and Investment groups in South Africa made their maiden visit to Sri Lanka led by South Africa’s Deputy Minister of Economic Development Ms. Hlengiwe Mkhize.  The High Commissioner said that there are ample opportunities in the real estate management in Sri Lanka and a delegation of South Africa’s Property Owners’ Association will be visiting Sri Lanka early next year.  He said that these Association members are the largest investors of South Africa next to the South African government.

The High Commissioner also said that the 30 member South African delegation is highly impressed about the investment opportunities available in Sri Lanka especially in the construction and tourism fields.  .

The South African High Commissioner also said that South Africa has become the most important trading partner for Sri Lanka in the Southern African region. He said that there has been nearly 70% total trade increase between the two countries in 2011 to 65.52 million U.S.Dollars. He said that there is much unrealised scope for further trade enhancement between the two countries

The High Commissioner further said “the Progressive Business Forum, which is visiting Sri Lanka has realised the potentials in the resurgent Sri Lankan economy as a result of the committed leadership of President Mahinda Rajapaksa. We are confident that this bold and far-sighted initiative will expand existing opportunities for the South African business communities for vigorous cooperation in bilateral trade”.

Meanwhile the visiting South African Deputy Minister of Economic Development said that the delegation is focusing attention on investments in infrastructure, water, and energy. She said that Sri Lanka is their entrance mechanism to Asia. 

source - du invest


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