Sri Lanka seeks stronger partnership with Saudi Arabia for investment in key sectors
By: Isuru Parakrama
September 26, Colombo (LNW): Foreign Affairs Minister Vijitha Herath called upon Saudi Arabia to play a pivotal role in Sri Lanka’s development by investing in critical sectors such as tourism, pharmaceuticals, and infrastructure.
Addressing his first gathering on Tuesday (24) after being appointed as the Foreign Affairs Minister, to commemorate Saudi Arabia’s National Day, Herath emphasised the importance of strengthening economic ties between the two nations.
Herath outlined several strategic investment opportunities in Sri Lanka, particularly highlighting the Dedicated Pharmaceutical Zone in Hambantota, the Fabric Park in Batticaloa, and IT Parks.
He also encouraged Saudi investment in the tourism sector and major infrastructure projects, including the Colombo Port City and Hambantota Port.
These areas, according to Herath, represent significant potential for bilateral cooperation and economic growth.
Expressing gratitude for Saudi Arabia’s ongoing support, particularly at the United Nations Human Rights Council (UNHRC), the minister highlighted the crucial role Saudi Arabia has played in Sri Lanka’s debt restructuring efforts.
“Saudi Arabia has consistently extended its hand to Sri Lanka, especially during challenging times,” Herath remarked.
He further acknowledged the significant contributions of the Saudi Fund for Development, which has funded numerous projects in Sri Lanka since 1981, including key developments in water, energy, health, and education sectors.
Notably, Herath praised the Saudi-funded Peradeniya-Badulla-Chenkaladi Road Project, the Wayamba University Township Development Project, and the Left Bank Development Project in Kalu Ganga, among others.
These initiatives, he said, have had a meaningful impact on improving the quality of life for many Sri Lankans, underscoring the depth of cooperation between the two nations.
The minister also expressed appreciation for Saudi Arabia’s role in providing employment opportunities to a significant number of Sri Lankan workers.
Presently, around 200,000 Sri Lankan migrant workers are employed in Saudi Arabia, contributing to both economies.
Recently, the two countries signed an Agreement on Skill Verification, aimed at facilitating greater opportunities for skilled and semi-skilled workers from Sri Lanka to find employment in the Kingdom.
As part of efforts to further boost tourism, Herath announced that Sri Lanka would be offering visa-free access to citizens from 35 countries, including Saudi Arabia, starting from 1 October 2024.
The visa-free stay will be valid for six months for tourism purposes, providing an additional incentive for Saudi nationals to explore Sri Lanka’s rich cultural heritage and natural beauty.
“I warmly invite our Saudi friends to visit Sri Lanka and experience the unique charm of our country, from its ancient history to its stunning landscapes,” Herath concluded, reinforcing Sri Lanka’s commitment to fostering stronger ties with Saudi Arabia.
