Riyadh: Ambassador of Sri Lanka to the Kingdom of Saudi Arabia, Ameer Ajwad, recently met with Sara Al-Sayed, the Deputy Minister of Investment for International Relations of Saudi Arabia and Deputy CEO of the Saudi Investment Promotion Authority (SIPA), to discuss potential investment opportunities in Port City Colombo.

According to Ministry of Foreign Affairs – Sri Lanka, Ambassador Ajwad highlighted various sectors in Sri Lanka that offer promising investment prospects, including agriculture, aquaculture, tourism, ICT, and the pharmaceutical sector. He extended an invitation to Saudi investors to explore these expanding opportunities, emphasizing the potential for mutually beneficial partnerships between the two nations.

During the meeting, Ambassador Ajwad presented a comprehensive overview of the business investment opportunities and incentives available in Port City Colombo. This multi-service special economic zone (SEZ) is equipped with state-of-the-art infrastructure and benefits from strategic inte
rnational connections by land, sea, and air routes. Both parties expressed willingness to continue discussions and explore actionable steps to advance future collaborations.

In a recent development aimed at enhancing bilateral investment relations, Sri Lanka and Saudi Arabia signed a Memorandum of Understanding (MoU) to promote direct investments and improve the investment environments of both countries through policy and legal reforms.

Ambassador Ajwad was accompanied by Mohamed Anas, Minister / Head of Chancery of the Embassy of Sri Lanka in Riyadh, and Tashma Vithanawasam, First Secretary (Trade).