Friday, July 02, 2010

UK team exploring investment opportunities in Sri Lanka's North



Colombo Page
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A team from the British High Commission in Colombo along with the Acting British High Commissioner to Sri Lanka, Mark Gooding and United Kingdom's Department for International Development (DFID) is currently visiting Sri Lanka's war-torn North.

During their 4-day visit from June 28 to July 1, the team will be exploring the investment opportunities in the region. They will visit the Northern cities including Jaffna, Vavuniya, Mullaitivu, and Kilinochchi to observe the economic development, investment opportunities, and humanitarian requirements in the area.

The group will also meet key government, military, political and religious figures in the area, as well as commercial and local and international humanitarian organizations, the High Commission reported.

According to a High Commission press release the DFID has allocated £13.5 million of humanitarian assistance to Sri Lanka between September 2008 and July 2009, in response to needs on the ground arising from the final stages of the conflict between the Government of Sri Lanka and LTTE, and its immediate aftermath.

According to statistics from the Board of Investment of Sri Lanka, UK companies comprise a 10.2% share of FDI in Sri Lanka - the second largest - with investments totaling approximately $300 million at the end of 2009.

The Acting High Commissioner is accompanied on his visit by Malcolm Lewis (1st Secretary - Migration), David Ashley (1st Secretary - Regional Advisor), Jane Barham (1st Secretary - Development), Michael Jefferson (Commercial Attaché) and Neil Barry of the Department for International Development (DFID), London.

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