The Toyota Lanka Company is keen to set up a Toyota vehicle assembly plant in Sri Lanka if the government keeps the car import restrictions for a period of ten years.
‘This was indicated by top officials of the Toyota Lanka Company’ said Minister of Industries Wimal Weerawansa to Ambassador of Japan to Sri Lanka Akira Sugiyama when the duo met in Colombo last week at the Ministry of Industries. The Minister said that the Ambassador has promised to take this proposal up with the top officials of the Toyota Company in Japan and positive feedback was expected.
Toyota’s corporate structure consisted of 364,445 employees worldwide and, as of December 2019, was the tenth-largest company in the world by revenue. Toyota was the world’s first automobile manufacturer to produce more than 10 million vehicles per year, which it has done since 2012. Toyota has factories in most parts of the world, manufacturing or assembling vehicles for local markets.
The Minister and the Ambassador of Japan also discussed ways to woo Japanese investors especially in the Agriculture sector to explore the possibility of forming joint ventures for agro value addition projects with Sri Lankan counterparts.
Minister said that the government will provide all necessary support for Japanese entrepreneurs to invest in Sri Lanka. Several officials from the Japanese Embassy and Minister also participated.
