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| Tuesday, 10 February 2004 |
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French businessmen seek local trade partners for SMI projects by Shirajiv Sirimane French businessmen are keen to set up small and medium sector (SMI) business ventures in Sri Lanka and over 250 entrepreneurs are expected to visit the country this year to find partners for joint ventures. According to the President of the Franco - Sri Lankan Business Council (FSLBC) Tima Lazarus, 84 percent of business ventures in France is with the Small and Medium sector. "This is a huge market," he said. None of the governments had exploited this area so far and the Board of Investment is only looking at major investors. He said that Sri Lanka is not portrayed as an investment destination such as Malaysia, China, Korea or Taiwan. "Everybody knows Sri Lanka as a tourist destination and this must change." He said that all he could find were posters depicting beaches, temples and ruins and not the port, world trade centre, factories or highways. France is strategically located and with the European Union expected to grow to service 600 million people from 350 million people and with Greece and Turkey expected to join, Sri Lanka would be at an advantage doing business with them. French entrepreneurs have selected a number of areas such as power sector, tourism, coconut and rubber based products, software, Gem and jewellery, handicrafts and tea. Representatives from GSM Holdings of France dealing in the leisure sector are already in Sri Lanka on a fact-finding mission to invest in Sri Lanka. "They are keen to set up a theme park or a large water sport centre," he said. The house of Ceylan would promote Sri Lankan Industries and Tourism exchange between France and Sri Lanka. "The House of Ceylan offers essential business services to Sri Lankan companies looking to enter the continent," he said. The house provides detailed information on investments, joint ventures, sales, promotion, and communication facilities and will also act as an arena for Sri Lankan products in Lyon - the second largest city of France. The House of Sri Lanka also provides all trade, finance, investment opportunities and investor details of the Board of Investment of Sri Lanka. All the promotion of Sri Lanka as a destination for European companies for investment has been undertaken without the financial support of either the French or Sri Lankan Governments. Sri Lanka's strategic position on the trade routes of the Indian Ocean makes it a natural section for a transport hub. Low labour costs and high standards of education make outsourcing to the country and even total local production, a viable option. |
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