Chairman of the Board of Investment of Sri Lanka and the Colombo Port City Economic Commission Dinesh Weerakkody concluded a series of highly productive sector-specific meetings during his visit to the United Kingdom in February 2024. The meetings held at the Sri Lanka High Commission and at the Sri Lanka Residence in UK on 24 February were aimed at strengthening Sri Lanka-UK economic ties and exploring strategic partnerships between the two countries.
The Chairman together with Sri Lanka High Commissioner to the UK Rohitha Bogollagama engaged in focused discussions with key organizations representing various sectors, fostering dialogue on potential collaborations and investment opportunities. The meetings were attended by the captains of the industry including Standard Chartered Bank, Virtusa Corporation, Bank of Ceylon UK, Regent Group UK, Home Care Services UK, Dover Marina Hotel & Spa, Sai Care Home UK, Carbon Tracker UK, and Royal Society of Medicine, London.
The discussions revolved around critical topics aimed at enhancing cooperation and promoting investment between Sri Lanka and the UK. Key areas of focus included promotion of the financial sector and banking within the Colombo Port City Project (CPCP), initiatives within the CPCP and the BOI, exploration of investment opportunities in State-Owned Enterprises (SOEs) in Sri Lanka, support for energy transition initiatives and the advancement of Artificial Intelligence (AI) and Information Technology (IT). Two sides also explored the possibility of establishment of digital education initiatives in Sri Lanka, particularly the development of a digital university in Sri Lanka. The discussions also touched on investment prospects in private home care facilities, development of a Care Home Village in Sri Lanka and the identification of potential improvements to the health and clinical sector in Sri Lanka.
This visit highlights the significance of the economic relationship between Sri Lanka and the UK. The UK stands as the second-largest export destination for Sri Lanka and is a vital source of inbound tourism, ranking third in this regard. Furthermore, the UK is one of the largest source countries for Foreign Direct Investment (FDI) in Sri Lanka. These statistics underscore the importance of nurturing and deepening economic ties between the two nations, paving the way for increased trade, investment, and collaboration across various sectors.
Mr. Weerakkody's visit underscores Sri Lanka's commitment in fostering stronger economic partnerships with the UK and attracting foreign investment to drive growth and development initiatives in Sri Lanka. Meetings held during his stay in the UK have laid the groundwork for meaningful collaborations that are poised to benefit the country’s future economic and development trajectory.
High Commission of Sri Lanka
London
01 March 2024
