|
BOI
urges German investors to take a fresh look at Sri Lanka
The Board of Investment of Sri Lanka (BOI) has conducted a
successful investment promotion mission to Germany, targeting
key business leaders in three cities.
The highlight of the mission was a well-attended investment
promotion seminar at the offices of the German Chamber of
Commerce and Industry (IHK) in the financial capital of Frankfurt
on Main. The meeting was organised by the BOI in collaboration
with the German Asia Pacific Business Association (OAV) and
Federation of German Industries (BDI).
Addressing more than 50 German business leaders, Executive
Director (Investment Promotion) of the BOI, Duminda Ariyasinghe
said Sri Lanka was at the threshold of a strong growth trajectory.
He said that while on one hand the conflict in Sri Lanka was
nearing an end, the country was ideally placed to benefit
from the economic boom in South Asia, thanks to its strategic
location and preferential trading agreements with India and
Pakistan.
Addressing some of the misconceptions in Germany about Sri
Lanka, Ariyasinghe said that no investor or foreigner had
ever been harmed by the conflict in the island. He outlined
the key incentives and facilities available to German investors
in Sri Lanka.
Three of the existing German investors in Sri Lanka presented
case studies on their experiences in the island. Wiestaw Kramski,
Chairman, Kramski GmbH who came to Sri Lanka in 1993 spoke
of the success of his venture. Kramski said that despite some
initial labour pains, his Sri Lankan operations had become
very profitable. He said the productivity of 50 German-trained
Sri Lankan workers was equal to standards in Germany. Kramski
which employs 190 people plans to double production, he said.
Martin Ebeling, CEO of Graphit Kropfmuhl AG which owns the
Bogala graphite mines said his company felt very safe to operate
in Sri Lanka. He said that in Sri Lanka any labour issue can
be addressed through discussions, pointing to his company’s
collective agreement with workers. He said the company will
be expanding its operations in the island.
Thomas Kriwat, a senior member of the OAV and the Managing
Director of Mercantile Shipping Company told the audience
that investing in Sri Lanka was most rewarding if German companies
identify the correct local partner. The company operates a
training institute for seamen in Galle which trains appx.
1000 people annually. Speaking of political developments in
Sri Lanka, Kriwat said the German media had largely ignored
positive developments, including the establishment of representative
government in the Eastern province.
Dr. Jürgen Ratzinger, Managing Director, International
Business at Frankfurt Chamber of Commerce and Industry (IHK)
complimented Sri Lanka for its strong economic growth. He
said German companies can benefit from opportunities in Sri
Lanka and noted that the forum was one of the best attended
among recent investments briefings by a country. Dr. Ratzinger
paid a tribute to Mr. Buddhi Athauda, the Sri Lankan Consul
General in Frankfurt for actively engaging his chamber and
promoting investment opportunities in Sri Lanka. The Sri Lankan
Ambassador in Berlin, H.E. T.B. Maduwegedera who addressed
the seminar gave an update on the island’s political
situation. Among the attendees was Dr. Michael Schmidt, former
German Ambassador in Sri Lanka who has played a key role in
strengthening ties between the two countries.
The BOI delegation which also comprised Actg. Executive Director
(Investment), Gowrie Rajapakse and Director (Investment Promotion),
Nilupul de Silva held one-on-one meetings with German investors
interested in areas such as tourism, food processing, light
engineering and infrastructure, after the seminar.
The BOI team also held a roundtable discussion in Cologne
with a core group of German investors. The meeting was organised
by the office of the Consul General in Frankfurt. An inward
delegation from Cologne is expected to visit Sri Lanka later
this year.
A series of one-to-one meetings was held in Munich, with the
assistance of the Honorary Consul, Mr. Hans Hammer on auto
parts manufacturing (rubber-based), environmental logistics,
manufacture of jewellery and infrastructure.
The delegation also held meetings with German companies that
have already visited Sri Lanka, to finalize their investment
plans.
The objectives of the BOI mission were to target investors
in Germany directly and address some of the misconceptions
about the business and investment climate in Sri Lanka, Mr.
Ariyasinghe said. It was important to present correct information
on Sri Lanka to key business leaders and senior German Chamber
officials, as until recently Germany has been a leading European
investor in Sri Lanka. The BOI is following up on the strong
response of German investors to the mission and building up
on the very positive experience of German investors already
in Sri Lanka.
|
