Several Thai corporations are eager to invest in Sri Lanka, citing its preferential and free trade agreements with several countries including India, Pakistan and Bangladesh that could provide a perfect gateway for Thai exports to the South Asian market. Thapana Sirivadhanabhakdi, president and chief executive of Thai Beverage Plc (ThaiBev), said the company was looking for investment opportunities in Sri Lanka, particularly in the beverage, hotel, serviced apartment and agriculture-based industries.
Thapana said ThaiBev had discussed possible investment deals with three local potential partners. However, he did not disclose details of the company's investment budget, saying a feasibility study needs to be conducted first.
"We expect a clear joint-investment plan to materialise over the next three months," he said.
Thapana is among the leading Thai entrepreneurs who joined the Sri Lanka trip led by Deputy Prime Minister Somkid Jatusripitak together with his economic team taking place from March 8-12.
Sri Lanka boasts high potential thanks to its rich supply of raw materials such as seafood, minerals and agricultural products such as tea and fruit, as well as beautiful scenery. The country is also home to important religious sites for Buddhists.
During Somkid's visit, three memoranda of understanding on technical cooperation, a joint action plan for tourism for 2016-18 and a letter of intent between the Industrial Promotion Department and Sri Lanka's Industrial Development Board were signed. Thailand is eager to sign a free trade agreement with Sri Lanka with the aim of tripling bilateral trade over the next five years, said Mr Somkid.
Saha Group chairman Boonsithi Chokwattana said Sri Lanka was an interesting market despite its size. The country has cultural similarities with Thailand and serves as a gateway to South Asia, he said.
Jariya Wongsathuaythong, senior vice-president of Italian-Thai Development Plc, said the company was interested Sri Lanka's infrastructure and expressway construction business.
(The Bangkok Post)
