Sri Lankan firms eye Phl investment opportunities

MANILA, Philippines - Sri Lankan companies are scouting for investment opportunities in the Philippines amid improving economic conditions here.

Philippine Chamber of Commerce and Industry (PCCI) President Miguel Varela told The STAR that six companies that are part of the Sri Lankan business delegation came to the country on Thursday to look for investment opportunities.

“They were here to explore opportunities for joint venture and other investments,” he said.

He said the companies are interested in participating in infrastructure projects here.

“I told them that they can look into the government’s public private partnership projects,” he said.

Apart from infrastructure projects, the Sri Lankan companies would also like to know about available opportunities in agriculture, energy, manufacturing as well as tourism.

Varela said the Sri Lankan companies would also like Philippine firms to visit their country.

“They (Sri Lanka) would like to promote the industrial and agricultural sectors,” he said.

Since the Sri Lankan companies have given an invitation to Philippine firms to visit their country, he said the PCCI is planning to organize an outbound mission there.

“We have a business council there and we told them to look into how we can hold a business mission there,” he said.

Varela said other business delegations are expected to come here amid the country’s positive economic performance.

The business delegations expected are from Chile, Peru, Kuwait, Saudi Arabia and the US.