African state Sierra Leone offers investment opportunities for Sri Lanka

5 July 2024 11:48 am Views - {{hitsCtrl.values.hits}} 10 Bookmark

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As part of ongoing efforts to promote economic diplomacy in Africa, Sri Lankan ambassador Kana Ambassador Kananathan met with Sierra Leone President Julius Maada Bio in Freetown and discussed investment opportunities yesterday.

President Bio praised Ambassador Kananathan for his role as an election observer during the 2023 Presidential Elections and acknowledged his commitment to strengthening both diplomatic and economic relations between Sri Lanka and Sierra Leone. Their discussions focused on potential areas of cooperation, with both parties agreeing to intensify efforts to achieve mutual benefits for their respective countries.

President Bio expressed appreciation for the significant Sri Lankan investments in Sierra Leone, particularly the large-scale venture by Browns Investments Ltd of Sri Lanka part of the LOLC group. The establishment of Sunbird Bioenergy (SL) Ltd, manages a 23,500-hectare sugarcane farm and operates a factory with a production capacity of 22 million litres of portable Ethanol at present which is the main component of most alcoholic beverages. This venture stands as one of the largest sugarcane agricultural projects on the African continent, demonstrating the fruitful economic partnership between the two countries.

Sierra Leone offers lucrative investment opportunities in sectors such as mining, manufacturing, agriculture, maritime, aviation, fisheries and energy. President Bio extended an invitation to Sri Lankan investors to capitalize on these opportunities, promoting a win-win situation that will further strengthen economic ties.

Sierra Leone's recent election as a non-permanent member of the United Nations Security Council for the 2024-2025 term underscores the country's growing influence on the global stage.

Comments - 10

Judge Friday, 05 July 2024 12:09 PM

Birds of a feather flock together lol.

4 58

European Friday, 05 July 2024 12:20 PM

The president praised him for his role as an election observer? Wikipedia: the International community raised concernes about the transparency of the counting of the votes during the elections in Sierra Leone.

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Floki Friday, 05 July 2024 12:42 PM

Launderers must be studying the opportunities hard.

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Homba Friday, 05 July 2024 01:31 PM

So Rajapakshas need more money sent over from here to there?

0 6

Danny Friday, 05 July 2024 02:30 PM

Someone tell him that SL needs investments!

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Tissa Fernando Friday, 05 July 2024 04:20 PM

Those who invested in Africa came out bankrupt due to massive corruption from bottom to top in such countries. So take care.

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sam Friday, 05 July 2024 05:30 PM

Kana can invest his friends looted money

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Roman Twik Friday, 05 July 2024 05:56 PM

It's important to clarify some misconceptions. Kudos to our active High Commissioner, who is working tirelessly to create market opportunities for our people. Contrary to the claim that investments in African countries have failed, many top companies from Sri Lanka have actually found success and are flourishing in these markets. It's not accurate to generalize that investments in Africa lead to bankruptcy due to corruption. Each country and investment situation is unique, and many investors have found ways to navigate challenges effectively. Let's focus on informed discussions and recognize the positive strides being made and not misleading without knowing the facts

0 1

Eh Friday, 05 July 2024 05:57 PM

Eh. I am not sure about this.

0 1

Dan Friday, 05 July 2024 09:41 PM

Thought we were looking for investors or are we looking for overseas investment opportunities?

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