Business

BOI discusses German investments into pharma sector

The Board of Investments (BOI) Sri Lanka held discussions with High Commissioner of Germany Holger Seubert on attracting more foreign direct investment (FDI) from Germany, in the pharmaceutical sector. 

Accordingly, Embassy of Germany in Sri Lanka Deputy Head of Mission/Counsellor Olaf Malchow and German Industry and Commerce in Sri Lanka (AHK) Chief Delegate Alexandra Voss met with Board of Investment (BOI) Chairman Eng. Raja Edirisuriya and Director General Renuka Weerakone on 10 March 2022, at the BOI. AHK Head of Corporate Affairs/Export Promotion Malintha Gajanayake and BOI Director – Investment Promotion Nilupul De Silva participated in the discussion. 

The High Commissioner and his team discussed the pharmaceutical zone that is currently being  developed in Hambantota, and requested High Commissioner Seubert to invite leading German companies to invest in Sri Lanka in the pharmaceutical sector. Both sides agreed to continue the dialogue on a regular basis, to discuss the issues faced by existing German investors, in order to make the facilitation more effective. 

The matters discussed consisted of the facilitation provided for existing investors to encourage them to re-invest and expand their operations in Sri Lanka.

The High Commissioner assured their full co-operation in attracting FDI to Sri Lanka. The meeting also introduced the newly appointed Head of AHK in Sri Lanka to continue the good working relationship between the BOI and AHK.