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South Africa to make US $122 million investment

The South African High Commissioner to Colombo, Geoff Doidge has announced that his country will make an initial investment of US$ 122 million, whilst speaking at a dinner hosted by the Export Development Board of the Ministry of Industry and Commerce for a South African business delegation.

“The Progressive Business Forum, which is visiting Sri Lanka has realised the potentials in the resurgent Sri Lankan economy as a result of the committed leadership of President Mahinda Rajapaksa.

“We are confident that this bold and far-sighted initiative will expand existing opportunities for the South African business communities for vigorous cooperation in bilateral trade”, he said.

Sri Lanka’s deputy economic development minister Lakshman Yapa Abeywardene meanwhile said that Sri Lanka is looking to expand trade ties with South Africa according, while speaking at a business forum attended by the business delegation.