The Sri Lanka Business Forum 2014 organised by NWS Holdings Ltd. in Tokyo yesterday saw a big draw of investors and representatives from Japanese companies, who were enlightened on the post-war rebound and potential for growth opportunities.
Held at the Hotel New Otani in Tokyo, the Forum saw nearly 200 participants who listened to the progress of post-war Sri Lanka from a macro and corporate perspective and the emerging new opportunities for investments, partnerships, tourism and trade.
The Forum was part of NWS goal of increasing Japanese investments to $ 500 million by end 2015 after having facilitated over $ 300 million in Japanese investments since the end of the conflict in Sri Lanka. Previously NWS Holdings owned by Japanese investor Takashi Igarashi held investment promotion events in 2011 and 2012 in Tokyo.
Given the national importance of the NWS initiative, a special pre-recorded message from Investment Promotion Minister Lakshman Yapa Abeywardena in Japanese was aired for the benefit of participants whilst Sri Lanka’s Consul General in Osaka D.W. Aluthgamage made a passionate and effective speech also in Japanese amidst widespread applause from the participants.
He spoke of post-war development spearheaded by President Mahinda Rajapaksa’s ‘Mahinda Chinthana’ as well as how Japan could use Sri Lanka strategically to serve the one billion plus market in South Asia using the FTAs with India and Pakistan.
The Forum also saw participation by a Sri Lankan private sector delegation comprising Softlogic Holdings PLC, Just in Time Technologies Ltd., Jetwing Hotels Ltd., Hsenid Software International Ltd., Speedmark Transportation Lanka Ltd., Pan Asia Banking Corporation and Dior Properties and Investments Ltd.
These companies were represented at chairman/MD and director levels. Among sectors promoted for Japanese investors at the Forum were ICT, tourism, retail, healthcare, logistics, property development and financial services.
The Forum was also timely as it was held a month after the historic visit by Japan’s Prime Minister Shinzo Abe to Sri Lanka, which gave bilateral ties a big boost. The visit of Premier Abe also figured in some of the speeches and presentations by Sri Lankan delegation.
A special tourism promotion initiative also featured at the Forum done in collaboration with Japan’s A2 Media Ltd., whilst SriLankan Airlines offered one of the lucky investors a free ticket to holiday in Sri Lanka.
NWS Holdings Managing Director Viraj Malawana said the response for the 2014 Forum was unprecedented with record participation and interest from Japanese companies.
So far the Japanese investments facilitated by NWS Holdings include around Rs. 25 billion in Government bonds promoted by Bansei Securities, which now has a 15% stake in Pan Asia Bank and diversified into tourism as well as over Rs. 11 billion worth acquisition of controlling interest in Expolanka Holdings Plc by Japan’s logistics giant Sagawa.
