Results of President’s Visited to Japan

(December, 31, Colombo/Tokio, Sri Lanka Guardian) Mahinda Rajapaksa, President of Sri Lanka was on a State visit to Japan and he participated at a Business and Investment Forum as well. H.E. was in Japan from 08th to 11th December 2007.

A highly successful and productive Business and Investment Forum was held at the Imperial Hotel to project and accentuate Sri Lanka’s favourable investment environment as well as a destination for Foreign Direct Investment (FDI) and Joint Ventures. Over 250 potential Japanese investors attended the said event.

Associated with the President’s visit were 45 leading Sri Lankan businesspersons for whom one-to-one business meetings were arranged with their Japanese counterparts by the Sri Lankan Embassy.

At this Forum, the Government of Japan pledged to assist Sri Lanka with an economic and financial grant package worth Yen 1,900 million.

President Rajapaksa, in discussion with the Japanese Prime Minister Yasuo Fukuda and Foreign Minister Masahiko Komura, extended the country's gratitude to the Japanese Government for extending assistance on several mega development projects. Further, the President broached to the Japanese delegation the need for more international assistance in launching several of the proposed projects.

These include the setting up of a National Workers' Hospital, which is a budget hospital for the working class, the Moragahakanda hydroelectric project, the construction of a modern training school for nurses and a Liquid Nitrogen Gas (LNG) project among others. An MoU between Japan and Sri Lanka was signed for the establishment of a Liquid Nitrogen Gas (LNG) project.

Sri Lanka also sought more employment opportunities in Japan for skilled workers and professionals.

President also expounded to the delegation the measures taken by the Government to bring normalcy to the people in the recently liberated Eastern Province. He further elaborated the much ambitious program of Negenahira Reawakening, the comprehensive development programme for the Province.

Minister of Foreign Affairs, Rohitha Bogollagama, Additional Secretary to the President, Mr. Gamini Senerath, Finance Secretary Dr. P.B. Jayasundara and Sri Lanka Ambassador in Japan accompanied the President on his discussions and bilateral talks during his visit to Japan.

According to the Secretary to the Ministry of Power and Energy, the Japanese Government has assured its maximum support to upgrade the power generation in Sri Lanka.

The Japanese Government would address the Liquefied Nitrogen Gas (LNG) project with a grant of US$ 400 million out of a total cost of US$ 610 million.

The Japanese Government extended their support to upgrade the LNG system, as an initial step, and a Memorandum of Understanding was also signed between the two countries in which Japan would extend technical assistance to Sri Lanka.

The MoU was signed between the Secretary of the Power and Energy of Sri Lanka and Minister of Land, Infrastructure, Transport and Tourism of the Japanese Government.

The annual grant Japan extends to Sri Lanka was USD 320 million, through the Japanese Overseas Development Assistance programme, has been increased to USD 400 million, as a result of the visit of H.E. the President Rajapaksa to Japan.