BOI promotes investments at Tel Aviv Biz Forum

The Board of Investment of Sri Lanka recently engaged in investment promotion at an important event held in Tel Aviv, Israel.

BOI Chairman Dr. Lakshman Jayaweera briefed the business community of Israel on the potential Sri Lanka has to offer to Israeli investors. His presentation covered Sri Lanka’s strategic position, business-friendly climate and attractive regime of incentives offered to investors.

He was assisted by Duminda Premaratne, Deputy Director (Investment Promotion). The Israeli private sector representatives present at the Forum included entrepreneurs engaged in a wide range of sectors such as tourism, high-tech industries, water, energy, medical equipment manufacturing, apparel, education, manpower services, agriculture, dairies, fisheries, gem and jewellery, hospitals, pharmaceutical, construction and trading.

Many of those present expressed interest in the opportunities available in Sri Lanka and the incentives that Sri Lanka currently offers investors.

Currently there are 5 Israeli companies operating in Sri Lanka under BOI who are engaged mainly in aquaculture, agriculture, jewellery and fabricated metal products. The Israeli side at the forum expressed interest in investing in Sri Lanka and agreed to send an Israeli business delegation to the country in October 2014, to explore opportunities for trade and investment.

This mission to Israel was led by Neomal Perera, Deputy Minister of External Affairs who was accompanied by Dr. Lakshman Jayaweera, Dr. Nandalal Weerasinghe, Deputy Governor of the Central Bank, representatives of the Export Development Board and 20 business leaders from Sri Lanka. The meeting was organized and facilitated by Sarath Wijesinghe, Ambassador of Sri Lanka to Israel.

The delegation had t he opportunity to meet with many leading Israeli entrepreneurs and explore possibilities of enhancing economic cooperation with Israel in the field of trade and tourism and investment.

One of the main strength of Israel is the country’s close connection to many other countries especially those in North America and Western Europe. Many Israeli entrepreneurs have business interests in other countries hence Israel is an important country to engage for promotion of investment. Among t he interest generated by this visit was a proposal t o establish a large scale pharmaceutical manufacturing plant in Hambantota.