Japan provides $1 Million grant for Sri Lanka

The Government of Japan supported the Mines Advisory Group (MAG) for humanitarian demining activities in Northern Sri Lanka with a total sum of US$ 635,420 (approx. Rs. 110 million), the Japanese Embassy reported.

At the Ambassador's Residence in Colombo on 28 November 2019, Japanese Ambassador to Sri Lanka Akira Sugiyama and MAG Country Manager Valentina Stivanello signed the grant agreement.

The agreement follows two other grants from the Japanese government for a similar purpose in October this year – to promote and encourage the relocation and rehabilitation of farming and other livelihood activities for internally displaced persons (IDPs).

Experts predict that this project will continue the ongoing mine clearance in the northern region and contribute directly or indirectly to livelihood improvements for over 2,000 families in the districts of Mannar and Vavuniya.

Since 2003, Japan has been a significant donor in Sri Lanka in the field of mine clearance to help the nation to be mine-free by 2020. More than US$ 36 million in assistance was rendered towards this cause through its Grant Assistance for Grassroots Human Security Project (GGP).

Therefore, this project will contribute to the efforts of the Sri Lankan government to ensure safe mine-contaminated areas, facilitate the resettlement of displaced people and enhance their livelihoods in the northern region, especially in the districts of Mannar and Vavuniya.

OSL Take: The statement by Japanese Ambassador to Sri Lanka is indicative of the success recorded by foreign investors who have set up businesses based in Sri Lanka. It is also indicative of the opportunities to engage in companies as well as the availability of skilled labor in the country.

Sri Lankan government has also taken many steps to improve the ease of doing business environment in the country and has made massive progress in infrastructure development as well.

Sri Lanka’s geographical positioning, along with the many trade agreements and trade concessions enjoyed by the country, makes it an attractive business destination.

Therefore, foreign businesses/investors could explore setting up businesses in Sri Lanka as the base for the South Asian region.

Finally, we see a Japanese big fish taking to the “investment waters of Sri Lanka.”

Now the “eyes” of the international investment figureheads and pundits will stretch with anticipation about the investment potential of Sri Lanka.

OSL has been upbeat about the country’s potential.

However, many still went on the “wait and see policy” to take part in the country’s all sector boom. The boom was spearheaded by the USD 44 billion Western Region Megapolis Masterplan (WRMM) aimed at making Colombo a dominant trading-hub by 2030.

So, any party willing to consider Sri Lanka as a worthwhile investment destination could now consult the biz-friendly OSL Team for a country overview and the smart-investment-way forward with our local expertise and active links.

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