SLSBC concludes productive trade and investment promotion mission to Singapore

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By 2017-12-07

The Sri Lanka-Singapore Business Council (SLSBC) of the Ceylon Chamber of Commerce successfully concluded a business mission to Singapore from 8– 10 November 2017, a press release stated.

The mission was organized in collaboration with the International Enterprise (IE) Singapore; the Government Agency driving Singapore's external economy and promoting the overseas growth of Singapore-based enterprises and international trade, supported by Singapore Business Federation (SBF); the Apex Business Chamber in Singapore with over 18,000 members in association with the Sri Lankan High Commission in Singapore.

In the backdrop of the impending Free Trade Agreement (FTA) between Sri Lanka and Singapore, there was interest from companies to participate.The twenty-six member delegationwas led by SLSBC Vice President Rohitha Mendis, MD – Prudential Shipping Lines (Pvt) Ltd resulted in a productive visit to Singapore.

The event was attended by close to 100 participants from over 70 well-established Singapore companies includingAmara Holdings Limited a key player in hotels, properties, specialty restaurants and food services, Banyan Trees Hotel and Resorts, one of the world's leading international operators in the hospitality and spa industry, The SingEx group comprising four closely linked, Falcon Incorporation, a premier interior fit-out specialist and integrated furniture manufacturer, App Systems,providing high technology products and critical services for bioscience related technologies, Sembcorp Industries, a leading energy, water, marine and urban development group operating across five continents worldwide, the release added.

High Commissioner of Sri Lanka in Singapore, Nimal Weeraratne opened the talks. Board of Investment Executive Director, Prasanjith Wijayatilake spoke of the significant and attractive opportunities available for investment in Sri Lanka. Stax did a presentation on available business opportunities in Sri Lanka while Shiluka Goonewardene of KPMG spoke on the tax and legal framework of Sri Lanka. SLSBC Vice President Rohitha Mendis said the participation of Sri Lankan delegates in a series of successful seminars and business sessions organized by the Singapore Business Federation and IE Singapore in the past, has resulted in productive business contacts and partnerships between Singaporean and Sri Lankan companies. Considering Sri Lanka's rapidly developing status as a regional hub for business, Mendis invited potential Singaporean investors to visit Sri Lanka to explore the opportunities available for doing business in the country.

The Seminar concluded with scheduled one-on-one business meetings between representatives of the Singapore companies and Sri Lankan delegates as well as with the opportunity for Singaporeans to interact with officials of the Board of Investment and clarify matters relating to potential investments.The Delegation also participated in a series of meetings at the Singapore Indian Chamber of Commerce & Industry (SICCI) which provided them an opportunity to network with senior officials and members.

High Commissioner Weeraratne supported by First Secretary (Commercial) Nalika Kodikara, hosted the delegation for a networking session with Singaporean companies interested in exploring business opportunities during the mission, the release concluded.

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