5 Aug 2008 - Financial Times report on Lim SHrimp Organization during discussion between Sri Lanka's and Singapore's Minister of Trade in Singapore.


Financial Times

Sri Lanka to expand trade ties with Singapore

Minister of Export Development and International Trade Professor G.L. Peiris met with Singapore's Minister of Trade and Industry Lim Hng Kiang, at the Treasury in Singapore for a discussion about strengthening co-operation in trade and investment matters between Sri Lanka and Singapore. During the discussions Prof. Peiris informed Kiang that abundant investment opportunities are available in Sri Lanka at present, especially in the Eastern Province, with the resurgent economic activity taking place these in the fields of infrastructure development, fisheries, tourism, agriculture, and small and medium scale industry.

With investment of the value of 650 million U.S. dollars, Singapore is the 4th largest investor in Sri Lanka. The Singaporean Minister said that his Government is continually encouraging its companies, which already have extensive investments and trade links in the South East Asian region, to look further ahead and that Sri Lanka is very much on their radar screen.

The Ministers also discussed a proposal made by Sri Lanka to one of Singapore's leading companies, Shin Kuan, which had demonstrated its confidence in Sri Lanka by constructing the World Trade Centre and Havelock City, to further expand its commercial activities in the island. Another Singaporean Company, the South Asian Capital Company, which had successfully completed the Liberty Plaza project in the 1980s, is being encouraged by the Government of Sri Lanka to consider further investment in the suburbs of Colombo, Minister Peiris told his Singaporean counterpart.

Another project, in which the Government of Sri Lanka is interested, he continued, is the proposal to Lim Shrimp Organization of Singapore with regard to an extensive shrimp fishery.

The Ministers identified information technology and the exchange of students and teachers between the university systems of the two countries, with particular reference to scientific and technical disciplines, as priority areas for co-operation. Prof. Peiris briefed Minister Kiang fully about current political and economic developments in Sri Lanka. Sri Lank's High Commissioner in Singapore Shehan Ratnavale and Singapore's Non-Resident High Commissioner to Sri Lanka Tan Kab Hoe were present at the discussion.

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