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POSTED AT 01:18 PM 10-09-2018

More Italian business ventures for Lanka - Ambassador

Sri Lanka’s Italian Ambassador Paolo Andrea Bartorelli addresses the 19th AGM of the Sri Lanka –Italy Business Counci flanked by newly elected President Sonali Liyanamanna Picture by Chaminda Niroshana

Since the Sri Lankan economy is growing fast, the influx of more Italian and other foreign investors in the country to commence new business ventures has significantly increased during the past several years.

Sri Lanka’s Italian Ambassador Paolo Andrea Bartorelli was addressing the 19th AGM of the Sri Lanka –Italy Business Council (SLIBC) held in Colombo. SLIBC, former President Rajah Abeysinghe and the newly elected President Sonali Liyanamanna were present.

Ambassador Bartorelli highlighted that the Italian Embassy in Sri Lanka always extended its fullest cooperation to strengthen the bilateral relationship between the two countries.

He said a large number of Sri Lankans were living in Italy and this was a fine testimony to strengthen the relationship between the two nations.

Ambassador Bartorell said the significant increase of the arrival of Italian tourists to Sri Lanka and vice versa also showed the close rapport between the two countries.

He said the coming up of new buildings in Colombo and suburban areas reflect the speedy development in Sri Lanka.

“Even the Italian, European and Western ambassadors are highly confident over the current progress and such a situation encourages foreign investors to invest in the country. SLIBC, President Rajah Abeysinghe highlighted that both exports and imports between the two countries record an all-time high in 2017, but there was a decrease in investor and consumer sentiment due to the impact of adverse weather conditions.

He said currently there is a growth in tourism, logistics and, infrastructure in the country and many foreign delegations express their willingness in investing here.

He said during that period exports had increased by 29.5% while imports increased only by 13.5% and this situation resulted in a positive trade balance of Rs 34, 275 million in 2017. He said there was an increase in tourist arrivals from 24,293 in 2016 to 31,428 in 2017.

Newly elected President Sonali Liyanamanna said “We have many investment opportunities in Europe and have to identify the avenues of renewable energy, E- commerce, medical tourism, research and development and Technology.

Ananda Kannangara