Japanese businesses eye opportunities in Sri Lanka: Kotaro

“As this IMF programme and the debt restructuring is moving forward, we are welcoming many more business people and I think they’re all aware that something nice is around the corner”

Sri Lanka’s reform agenda continues to garner positive attention globally, highlighted by the recent achievement of finalising long-awaited debt restructuring deals with the Official Creditor Committee (OCC) and China. 

This success has sparked keen interest among international businesses to explore opportunities in the island nation. Acting Japanese Ambassador to Sri Lanka, Katsuki Kotaro, confirmed yesterday an increasing interest among Japanese businesses in entering Sri Lanka.

“As this IMF programme and the debt restructuring is moving forward, we are welcoming many more business people and I think they’re all aware that something nice is around the corner.

“Last week alone I have been greeting many Japanese delegations who are flying into Sri Lanka. They are willing to be part of the discussion,” Kotaro said while addressing the Asia Logistics Forum in Colombo yesterday.

Acknowledging that it is a challenging period for Sri Lanka as efforts are underway to pull the country out of the crisis and the impacts that stem from it, Kotaro pointed out it is also a period where there are many opportunities.

“I hope that our country (Japan) also will be part of that healthy discussion and can contribute,” he said. Meanwhile, he also reiterated that Japan is looking to resume the stalled projects with Sri Lanka.

“Since we have agreed upon the terms of the MOU, with a little bit more work to do we will resume the projects without waiting until the final conclusion of the debt restructuring. 

“So once this big project resumes, then hopefully the capacity of the airport will expand. That will help demonstrate that the country is open not just for tourism, but for logistics also,” said Kotaro.

Sri Lanka’s Foreign Minister Ali Sabry is scheduled to undertake an official visit to Japan come 1 July. 

The trip is being taken up on an invitation extended by Japan. Sabry will engage in bilateral discussions which will focus on making further progress on the outcome of Foreign Minister Yoko Kamikawa’s official visit to Sri Lanka in May.