“Government wants to make Sri Lanka the ‘Hong Kong of India” - BOI Chairman
[February 22, 2002 - 13.00 GMT]

Board of Investment of Sri Lanka (BOI) Chairman Arjuna Mahendran said that the government intends making Sri Lanka, the Hong Kong of India in the near future.

“We want to make Sri Lanka the gateway to India like Hong Kong to China, ” the BOI Chairman said in an interview with PRIU staffer Subashini Samaranayake.

The Chairman will lead a top business delegation to South India in April to attract more South Indian investments to Sri Lanka. The team will visit Chennai, Bangalore and Hyderabad.

He said that Sri Lanka has a big advantage in seeking investments from in South India where the population is more than 200 million.

“We are targeting Indian investment especially in light engineering, power generation, minerals graphite, ceramics, glassware and garments”, Mahendran added.

He said that the BOI would start regular contacts with its Indian counterparts.

Over 50 percent of Indian joint ventures and wholly owned subsidiaries in the SAARC region are located in Sri Lanka. The principal sectors, which have attracted Indian investment to Sri Lanka, are steel, cement, rubber products, tourism, computer software, IT training and other professional services.

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Last Updated Date: February 22, 2002  - 12.40 GMT.