A second annual conference to attract U.S. investors to Sri Lanka will be held in Colombo from 12- 14 Oct, 2010, giving business executives a chance to meet with Lankan government officials to discuss the possibilities of expanding U.S. businesses in Sri Lanka.

The conference is organized by the Embassy of Sri Lanka in Washington, D.C. and the Office of the U.S. Trade Representative, U.S. Department of Commerce, U.S. Embassy in Colombo and the Sri Lanka Trade Ministry.

“Our first conference last year gave people a good look at Sri Lanka, and the potential for businesses there,” said Jaliya Wickramasuriya, Sri Lanka’s Ambassador to the United States. “Now some of those businesses are planning to begin operations in Sri Lanka. We want to make sure that business people know the advantages of investing here.”

President Mahinda Rajapaksa, during a visit to the United Nations last week, met with U.S. investors during a business development luncheon. The President met with each of the 150 luncheon guests, and External Affairs Minister Prof G.L. Peiris described the advantages that U.S. companies enjoy by investing in Sri Lanka.

Those benefits include Sri Lanka’s free trade agreements with India and Pakistan that gives U.S. businesses duty-free access to those large markets, as well as relaxed foreign investment regulations to help renew its economy, which grew at nearly eight percent during the first half of 2010.

The conference will be held at the Hilton Hotel in Colombo. The hotel is offering special rates to conference attendees. Last year’s event featured more than 40 American businesses, as well as those already operating in India.

As the Office of the U.S. Trade Representative said, “This conference will provide you with an excellent opportunity to discuss specific investment opportunities with senior officials of the Sri Lankan government and to meet with many prospective investment partners on a one-to-one basis.

After nearly three decades of conflict, both Northern and Eastern Provinces, in addition to other regions, are now open to private sector investment. The ambitious development initiatives envisaged for these regions by the Sri Lankan government will soon pave the way for substantial trade and investment opportunities for U.S. entrepreneurs.

We believe the private sector can play a major role in rebuilding these regions and in helping the country achieve better economic conditions and lasting peace for all Sri Lankans, a press release from the US Embassy stated.