Sri Lanka urges Japan to invest in power, infrastructure and digital industries

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Sri Lanka pushed Japan to resume investing in projects such as power, roads, and ports on Saturday, following the conclusion of the Japanese foreign minister’s first high-level visit to the crisis-hit country in over four years.

Sri Lanka’s Foreign Minister, Ali Sabry, stated that his country is looking for Japanese investment in areas such as power, infrastructure, dedicated investment zones, and green and digital industries.

“We are confident that Sri Lanka’s economic recovery, which has made a promising start,” Sabry added, “will provide us with more opportunities to strengthen the Japan-Sri Lanka relationship.”

Yoshimasa Hayashi, Japan’s Foreign Minister, is in Colombo as part of a multi-country diplomatic tour that includes India, South Africa, Uganda, and Ethiopia. The Maldives will be his next stop.

Sri Lanka, which is along vital trade lanes in the Indian Ocean, has become a hotspot for influence between India, Japan, and China on one side.

According to the most recent finance ministry data, Japan is Sri Lanka’s second largest bilateral lender behind China, with approximately $2.7 billion in outstanding loans. India is the third most important creditor.