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ECONOMYNEXT - Export-Import Bank of Korea and the Korea Trade-Investment Promotion Agency (KOTRA) want to support investments in Sri Lanka by Korean companies.
South Korea held the top position in foreign investment to Sri Lanka in the 1980s, especially in the textile industry, the Korean embassy said in a statement.
But the country was not even on the list of top 20 foreign investors in 2013 where China, Malaysia and Hong Kong were No. 1~3 respectively.
“Korea Eximbank and KOTRA are keen to support prospective Korean businesses to invest in the country,” the statement said.
They want to “reclaim Korea’s spot as the most important sources of foreign direct investment and trade to Sri Lanka by providing financial and information services.”
Since 1978, Korea Eximbank has provided 340 million US dollars both for trade between Sri Lanka and Korea and for Korean companies’ foreign direct investments in Sri Lanka.
Korean firms are being drawn to the island given its annual six percent economic growth for the last five years, the statement said.
“In an effort to boost investment and trade between Sri Lanka and the Republic of Korea, KOTRA and Korea Eximbank are exploring the possibility of increasing Korean companies’ investments in Sri Lanka.”
The statement attributed the comments to WonchulKoh, director general of KOTRA in Colombo and Sungsoo Jung, chief representative of the Korea Eximbank’s Colombo office, at a networking meeting for Korean businesspersons attending the Sri Lanka Investment and Business Conclave 2016, organized by the Ceylon Chamber of Commerce (CCC).
According to CCC, 19 Korean enterprises attended at the conclave to explore opportunities for business in such areas as manufacturing, property and infrastructure development, tourism, financial services and education.
(COLOMBO, March 11, 2016)
South Korea held the top position in foreign investment to Sri Lanka in the 1980s, especially in the textile industry, the Korean embassy said in a statement.
But the country was not even on the list of top 20 foreign investors in 2013 where China, Malaysia and Hong Kong were No. 1~3 respectively.
“Korea Eximbank and KOTRA are keen to support prospective Korean businesses to invest in the country,” the statement said.
They want to “reclaim Korea’s spot as the most important sources of foreign direct investment and trade to Sri Lanka by providing financial and information services.”
Since 1978, Korea Eximbank has provided 340 million US dollars both for trade between Sri Lanka and Korea and for Korean companies’ foreign direct investments in Sri Lanka.
Korean firms are being drawn to the island given its annual six percent economic growth for the last five years, the statement said.
“In an effort to boost investment and trade between Sri Lanka and the Republic of Korea, KOTRA and Korea Eximbank are exploring the possibility of increasing Korean companies’ investments in Sri Lanka.”
The statement attributed the comments to WonchulKoh, director general of KOTRA in Colombo and Sungsoo Jung, chief representative of the Korea Eximbank’s Colombo office, at a networking meeting for Korean businesspersons attending the Sri Lanka Investment and Business Conclave 2016, organized by the Ceylon Chamber of Commerce (CCC).
According to CCC, 19 Korean enterprises attended at the conclave to explore opportunities for business in such areas as manufacturing, property and infrastructure development, tourism, financial services and education.
(COLOMBO, March 11, 2016)
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