Korean envoy meets with BOI Chairman to promote bilateral trade and investment

Korean Ambassador Santhush Woonjin Jeong met with Sanjaya Mohottala, Chairman of the Board of Investment of Sri Lanka (BOI) at the Korean Embassy last week.

Representatives of the Korean Businessmen Association and the Korean Residents Association participated in the fruitful discussion to promote bilateral trade and investment, the Korean Embassy said in a statement.

Korean investors have played a significant role in developing two-way trade and investment to benefit both countries and their economies. The Ambassador reiterated that the investors have helped to strengthen commercial ties between Korea and Sri Lanka in harmony with the national policy.  

Since the Covid-19 pandemic, the global economy including that of Sri Lanka has experienced a negative impact. Korean investors have faced many challenges amidst travel restrictions and disruptions in the global supply chains.

The Chairman of BOI agreed to expedite the resolution process of the challenges faced by the Korean investors due to the COVID-19 pandemic.

The Ambassador and the Korean Business delegation appreciated the continuous assistance extended by the Board of Investment led by Mr. Mohottala in coordinating and facilitating two-way trade and investment.

The Ambassador further said that FDI was one of the key strategic pivots in elevating and advancing the overall economy of Sri Lanka. Sri Lanka is very safe and is well poised to receive Foreign Direct Investment and Foreign Institutional Investment, particularly from the Republic of Korea since the two countries have been engaged in economic and commercial activity for well over four decades.

The Ambassador expressed confidence that the active role of the Board of Investment will attract more investment opportunities thus paving the way to consolidate strong bilateral ties.