Sri Lankan officials discuss trade ties

"The visit will also create favourable conditions for enterprises of the two countries to promote two-way trade."

(October 26, HCM City, Sri Lanka Guardian)A Sri Lankan delegation led by President Mahinda Rajapaksa discussed investment opportunities with Vietnamese businesses during a trade forum on Saturday.

The forum was hosted by the Viet Nam Chamber of Commerce and Industry (VCCI) and Sri Lankan Embassy to Viet Nam. Sri Lanka’s delegation consisted of senior government officials and 22 major enterprises, and more than 100 Vietnamese entrepreneurs also participated in the forum.

Speaking at the opening session, Nguyen Trung Tin, deputy chairman of HCM City People’s Committee, said Sri Lanka’s delegation to the city showed the interest Sri Lankan enterprises had in Vietnamese investments.

"The visit will also create favourable conditions for enterprises of the two countries to promote two-way trade," said Tin.

Agreements signed between the two countries have helped bring bilateral trade turnover to US$61 million in 2008.

"Our objective is to expand economic ties between Sri Lanka and Viet Nam by developing and promoting bilateral trade and foreign direct investment. We have come to Viet Nam with the objective of seeking to attract investment from this country," said Sri Lankan Minister of Enterprise Development and Investment Promotion Anura Priyadarshana Yapa during the forum.

He said the Sri Lanka -Viet Nam Joint Commission held in Colombo last August was a fine example of the promotion of these ties, adding that the Sri Lankan government had given priority to the development of agriculture, fishery, seafood processing, rubber, tourism and oil and gas industry.

He said it was time for Sri Lankan and Vietnamese enterprises to invest on a larger scale.

His view was echoed by fellow colleague, Minister of Foreign Trade and Development G L Peiris, who said Sri Lanka has high -quality human resources and preferential and practical policies on investment and business.

Tin also called on Sri Lankan companies to do business in Viet Nam. He said HCM City had more than 100,000 enterprises and the city’s export turnover reached $27 billion in the first nine months of 2009.

He said the city offers an attractive investment environment, granting licences for the opening of representative offices to some 3,000 companies from 60 foreign countries and territories around the world.

Viet Nam has licensed five Sri Lankan-invested projects with a combined registered capital of $13.2 million. Sri Lanka now ranks 59th out of 88 foreign investors in Viet Nam.

The visit to HCM City by President Rajapaksa was made just a few days after he had met with President Nguyen Minh Triet, Party General Secretary Nong Duc Manh and Prime Minister Nguyen Tan Dung in Ha Noi.

As part of his visit to the southern largest hub, President Rajapaksa was received by Chairman of the municipal People’s Committee Le Hoang Quan.

-Sri Lanka Guardian