Around 30 expatriate Sri Lankan investors looking to get involved in Small and Medium Enterprises (SMEs), along with nearly 100 local investors and 40 heads of regional business chambers gathered last week to explore investment and business partnerships. BizPAct ‘Invest in Sri Lanka Symposium’ which kicked off on Thursday (25th) attracted tremendous interest both locally and internationally. It is in fact the first conference to actively solicit participation from the Diaspora since the end of the war. 

The event showcases 20 SME sector investment proposals that have been pre-screened and audited, along with many other potential business opportunities from Jaffna and Mannar as well. BizPAct has brought to the country leading Diaspora investors from the UK, USA, Australia, Switzerland, Germany and the UAE.

Susan Joachim, a Sri Lankan educationist from Hamburg, Germany who attended the conference noted how this initiative offers a great opportunity for the Diaspora to get involved in peace building. She said, “Expectations are high and the interest is real. The business of peace has now begun, now that the business of war is over”. She focussed on the need for human capital development for Sri Lanka to grow, citing examples from post-war Germany. She also stressed the need for Sri Lanka to take certain crucial steps to win the hearts of the Diaspora and show that positive changes are taking place. She highlighted the need for equal rights for all, a proper enforcement of legal systems, improvements in road, rail and regional airport infrastructure and enhancement of English, IT and entrepreneurial skills in the workforce.

Samantha Rasquinho, a Sri Lankan domiciled in the UAE and heading the Finance division of Emirates airlines was also a panellist during the Diaspora discussion. She said that she was honoured to be at this forum and has learnt how much Sri Lanka has moved forward since she was here in 1995. She told the SME entrepreneurs, “I don’t know how I am going to help you but I am going to, in any way I can”.

Jeremy Liyanage, a Kandyan born Sri Lankan now living in Australia, said “the Diaspora has expertise in many industries that they would like to offer Sri Lanka and are looking to get involved in business, corporate social responsibility and mentoring of fledgling businesses”. He added that “regional businesses in Sri Lanka looking to expand to foreign markets need to understand the business environment and rules of the game in other countries, and the Diaspora can help you with that”. He advocated the setting up of an Office of Diaspora Affairs, possibly under the Ministry of Nation Building to begin harnessing the support of the expatriate Sri Lankan community and help with any matters that will facilitate their involvement. Jeremy remarked that “now is the time to build trust, and the Diaspora is committed towards a social and economically secure Sri Lanka”.

The Diaspora discussion was followed by an interactive session with Hon. Navin Dissanayake, Minister of Investment Promotion, who answered questions relating to policy issues raised by local and expatriate investors.

Dr. Alex Wijesinghe a veteran engineer now residing in California was another panellist representing Sri Lankan expatriates living in America. He particularly congratulated H.E. President Mahinda Rajapakse for the war victory adding, “thank you for securing the first step towards bringing unity to the country by getting rid of an element that was stopping us all this time. Now Sri Lankans have no fear of travelling anywhere, and this is why we’re even travelling to the East this weekend”. He came to Sri Lanka especially to attend the BizPAct conference, along with the rest of his family who have not been back in 18 years.

A highlight of the inaugural day of the symposium was the three plenary sessions geared to provide first hand information on trade and investment opportunities in specific areas. The panels focussed on North & East, Mannar, Monaragala and lagging regions and also the South, North Western and other key regional economies. The panels were chaired by Mr. Nimal Cooke, Group Director, Maharaja Organization, Mr. Deva Rodrigo, Past Chairman, Ceylon Chamber of Commerce and Mr. Rohantha Athukorala, Director, Economic Affairs, SCOPP.

At the end of the day, a unique ‘regional marketplace’ session took place with one-to-one meetings between potential investors and budding regional business people. They were able to learn more about the opportunities on offer and pitch their business propositions in a more casual atmosphere.

Following the inaugural conference with key regional discussion sessions, participants will join regional cluster visits of their choice over the weekend. The cluster visit to the East has attracted the most interest, with over 40 participants attending. These visits provide an ideal opportunity for locals and expatriates to experience the resurgence of the East, personally meet the regional business community there, visit budding enterprises and discover the opportunities and challenges in these emerging areas.

The conference will conclude on Monday the 29th with a high-level meeting of policy makers and top government officials to iron out policy issues and streamline the investment process. This includes Hon. Anura Priyadarshana Yapa, MP, Minister of Enterprise Development and Investment Promotion, Hon. Kumara Welgama, MP, Minister of Industrial Development, Hon. Mano Wijeyeratna, MP, Minister of Enterprise Development, Hon. Faizer Musthapa, MP, Deputy Minister of Tourism, Dr. Palitha Kohona, Secretary, Ministry of Foreign Affairs, Prof. Rajiva Wijesinha, Secretary General, Secretariat for Coordinating the Peace Process  & Secretary, Ministry of Disaster Management & Human Rights, Mr. Dammika Perera, Chairman, Board of Investment of Sri Lanka and Mr. Ravi Peiris, Director General/CEO, The Employers Federation of Ceylon.

The BizPAct Invest in Sri Lanka Symposium is organised by the Business for Peace Alliance, in collaboration with the Ministry of Foreign Affairs, the Board of Investment, the Sri Lanka Tourism Development Authority, the Ceylon Chamber of Commerce, the National Chamber of Exporters, the American Chamber of Commerce in Sri Lanka, the European Chamber of Commerce in Sri Lanka and the Government Peace Secretariat.

Economic Affairs Division