Trade and Investment

 

 

Located in the continent of Asia, Sri Lanka by its size is the 123rd largest country in the world with a total area of 65,610 square kilometers. However, the strategic location of the Island nation which connects major shipping and air routes to the East and West has paved the way for building strong commercial links throughout the Asian region as well as with the outer world over centuries.

 

Sri Lankan economy, which was once based on traditional agricultural export crops has now been transformed into one that propels mostly by manufacturing and service sectors. With the end of the three-decade civil conflict, Sri Lanka is now focusing on long-term strategic and structural development challenges as it is transforming into an upper-middle income country.

 

The Government's commitment is towards transparent market oriented policies to facilitate private sector economic activities and remove various barriers in the economy which disrupt the smooth operation of free market operations.Multi disciplined economic strength, local competitiveness, international trade and investments are among the key focuses of the Island nation in the pursuit of a knowledge based Social Market Economy built on social justice principles. With these developments, Sri Lanka's ranking for “Ease of Doing Business” has improved significantly surpassing most of its neighbors in South Asia.

 

 

 

 

The Sri Lanka Tourism Promotion Bureau (STLTPB) informs that you could obtain information/images/video clips required for tourism promotional activities on-line through the following links:

 

1.       Website: http://www.srilanka.travel

2.       Promotional Videos & Photo Gallery: https://www.srilanka.travel/promotionalkit/

3.       Facebook: Tourism Sri Lanka: https://www.facebook.com/tourismsrilanka.gov.lk/

     Sri Lanka in My Eyes: https://www.facebook.com/srilankainmyeyes/

 

4.       Twitter: https://twitter.com/tourismlk

5.       Instagram: https://www.instagram.com/destination_srilanka

6.       YouTube: https://www.youtube.com/user/srilankatravelvideo

Sri Lanka and Singapore have been long standing trading partners. The total trade turnover between Sri Lanka and Singapore as illustrated below recorded a fluctuating trend over a past 5 year.

The following products and services sectors have been identified in order to consolidate existing position and explore new opportunities;

 

Agriculture Commodity Exports:

 

  1. Coconut (Value Added Products)
  2. Spices
  3. Seafood
  4. Ayuveda Products, Wellness Products and Spa Products
  5. Processed Food, Beverages & Ceylon Tea
  6. Alcoholic Beverages (Ceylon Arrack, Lion Beer)

 

Industrial Products & Services;

 

  1. Printing Sector   (New)
  2. Electronics & Electrical Products
  3. Logistics
  4. Marine and Offshore Engineering (New)
  5. ICT/BPM
  6. PPE Products

Singapore has been an important foreign investor in Sri Lanka during the past two decades. As one of  the top 10 investors in the recent years, Singaporean companies have been focusing in areas such as property development, tourism , food and beverage processing, and telecommunications in Sri Lanka.

 

In addition, Sri Lanka has identified infrastructure, BPO/IT and IT enable services and educational institutes, tourism, gems and jewellery, and hospital and healthcare as targeted sectors for potential FDI from Singapore.

 

The factors such as Sri Lanka’s proximity to Singapore with daily air connections, similar trade policies followed in both countries, peace and political stability, and favorable investment climate stand  as   magnate to attract more investments from Singapore to Sri Lanka in future.

 

Singaporean investments in Sri Lanka are protected through the constitution of Sri Lanka with the signing of the Bilateral Investment between Sri Lanka and Singapore in 1980. The two countries have also signed a Double Taxation Avoidance Agreement in May 1979.

 

The main statutory institution under the purview of the Ministry of Development Strategies and International Trade, the Board of Investment of Sri Lanka (BOI) is the key facilitating authority which caters to foreign investors who intend to set up investment projects in wide-ranging areas of manufacturing, agriculture and services sectors in Sri Lanka.

please visit website of the Board of Investment of Sri Lanka - http://www.investsrilanka.com/

For more information you are most welcome to contact Commercial Division - commercial@lanka.com.sg