Sri Lanka woos Qatari investors

Sri Lanka has invited Qatari investors to seize the favourable climate for foreign investment in the country.
Besides several opportunities, investors would also have access to large market prospects by benefiting through the free trade agreements between Sri Lanka and several countries, said Rauff Hakeem, Sri Lanka’s Minister of City Planning and Water supply who was here on a three day visit.
“Qatar should take advantage of the agreements we have with other countries such as India, Pakistan, Singapore, china and Turkey. They can gain access through free trade agreements by coming and investing, we want to emphasis among the Qatari investors to exploit the opportunities and be part of the our development,” Hakeem told The Peninsula yesterday.
He also met with H E Dr Saleh Mohamed Salem Al Nabit, Minister of Development Planning and Statistics. Hakeem and a delegation of officials are on a visit to Qatar as part of Sri Lanka’s agenda in approaching countries, look at their investment preferences and work on n order to facilitate investments in the country. The visit was ahead of the official visit of Sri Lankan President Maithripala Sirisena scheduled for the first quarter of 2017.
During a forum facilitated by the Doha Bank the delegation showcased Sri Lanka’s different sectors as potential investment opportunities.  “First time we had this type of a investment forum targeting high network of corporate customers of a bank. During the three days we met with a wide range of government officials and private sector investors who have shown a keen interest in coming and investing in Sri Lanka,” said Hakeem.  Different investment opportunities in sectors such as LNG and power, tourism, industries, health and agriculture.
“We are now building massive industrial estates with all the infrastructure necessary very close to sea ports in Sri Lanka where the Qatari investors will have a opportunity to engage in production of goods. As much known Sri Lanka is high potential services sector investment destination. We also have a high human potential in the country, a highly literate population and professionals. Then we have our agriculture sector, as Middle East is looking for food security in next few decades, Sri Lanka is a very highly potential for cultivation. Also there is ample opportunities in the tourism industry,” said Hakeem.
As result of the Investment forum at least five Qatari investors have shown keen interest in further finding the possibilities of investing in Sri Lanka in the tourism, infrastructure office towers and managing medical waste.
Also Doha Bank is preparing to open its office in Sri Lanka’s capital Colombo soon. Dr Raghavan Seetharaman, the Group CEO of Doha Bank and a team are expected to visit Sri Lanka to hold discussions with Central Bank officials.  “Doha Bank has shown a keen interest in opening a office in Colombo, it will be a big boom for investors in Qatar to invest in Sri Lanka,” said Hakeem.
Further, Sri Lanka has every fast approval and problem solving system for foreign investors, according to Duminda Ariyasinghe, Director General, Board Of Investment of Sri Lanka.
“We have a system where issues are resolved very quickly that’s why some major investments came with small investments and expanded. We have system where decisions can be made very quickly. We have a weekly meeting with the Prime Minister regarding and any issues of foreign investors could be solved immediately,” he said.