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Govt. earmarks 80 projects for investment at CHOGM

2013 Jul 16

As many as 80 projects have been earmarked by the Government to be presented as investment opportunities on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM), the official Government website said yesterday.

CHOGM, the most powerful gathering of the Commonwealth, will be hosted by Sri Lanka in November. An investment forum titled ‘Commonwealth Business Forum’ is being organised on the sidelines of CHOGM and is expected to funnel US$ 1 billion in foreign direct investment into the island’s post-war economy.

Investment opportunities in tourism, ports and aviation are likely to be among the top attractions at the forum. Sri Lanka’s post-war tourism industry has boomed, attracting over one million arrivals in 2012 and over US$ 1 billion in revenue. The Government hopes to attract 2.5 million arrivals by 2016.

“Commonwealth leaders will participate in conferences and visit various parts of the country. The main meetings will be held in Colombo, Kandy and Hambantota,” the web posting added. On the margins of the CHOGM, the Commonwealth Business Forum, the Commonwealth Youth Forum and the Commonwealth People’s Forum will also take place.

The Commonwealth Business Council (CBC) envisages that there will be approximately 1,000 participants, from which about half would be from abroad. Non-Commonwealth countries have also been invited to participate in this event.

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