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President invites Saudi Arabia to invest directly in SL

16 Mar 2022

President Gotabaya Rajapaksa had informed Saudi Arabian Foreign Minister Prince Faisal bin Farhan Al Saud that he would like to invite Saudi Arabia to make direct investments in several sectors when the Foreign Minister visited Sri Lanka earlier this week, the President’s Media Division (PMD) said. The President made these remarks during a meeting held with the minister at the Presidential Secretariat on Monday (14), also highlighting the opportunities available for foreign investment in the sectors of agriculture, renewable energy generation, technology-based development, and the Colombo Port City, the press release added. Prince Al Saud was briefed on the impact of the Covid-19 pandemic on the Sri Lankan economy and the President also pointed out the impact of low remittances, the collapse of the tourism industry, the impact of dry weather on hydropower generation, and the rising demand for fuel, it further said. The release added that the Saudi Foreign Minister said that his country was also paying special attention to renewable energy generation and that they are ready to assist Sri Lanka in this sector. The President and the Saudi Foreign Minister also discussed further strengthening of bilateral relations in a number of areas. Saudi Ambassador to Sri Lanka Abdulnaser bin Hussain Al-Harthi, Saudi Ministry of Foreign Affairs Director General Abdulrahman Arkan Aldawood, Sri Lanka’s Foreign Minister Prof. G.L. Peiris, Secretary to the President Gamini Senarath, and Foreign Secretary Admiral Prof. Jayanath Colombage were also present.


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