Lanka appeals to Maldives for investments in 3 sectors
Discussions were also held on the growing drug menace affecting this region
Vice President Faisal Naseem and President of Sri Lanka Ranil Wickremesinghe
Sri Lanka has appealed the Maldives to invest in three sectors, of the country.
Lankan media has reported that the country's President, Ranil Wickremesinghe requested the Maldives to invest in Sri Lanka’s high-tech agriculture sector, cruise tourism and high-end tourism sectors.
As such, it is reported that Wickremesinghe made this request during a meeting with Vice President, Faisal Naseem, on Friday. The meeting took place at the Presidential Secretariat of Sri Lanka.
The President of Sri Lanka made the request, taking into consideration, the long-standing friendship between the Maldives and Sri Lanka.
It is reported that President Wickremesinghe also requested the Maldives to join hands with his country, in establishing the climate change university.
Discussions were also held on the growing drug menace affecting this region. As such, President Wickremesinghe sought the assistance of the Maldives in combatting the drug scourge, as well.
Lanka media also reported that President Wickremesinghe told the Maldivian Vice President that he intends to invite President Ibrahim Mohamed Solih once the Presidential residence which was destroyed during the July protests, is rebuilt.
Sri Lanka hopes to double tourist arrivals to 1.5 million next year and bring in $5 billion in vital foreign exchange, as the island nation seeks ways to tackle its worst financial crisis in seven decades.
The country of 22 million people, famed for its beaches, ancient temples and aromatic tea, has been struggling for months to pay for essential imports of fuel, food and medicine because of a lack of foreign exchange.
Tourism Minister Harin Fernando told reporters in Colombo, that tourism can play a major role in Sri Lanka's recovery and this is what we are aiming for next year.
Sri Lanka would likely end this calendar year with 750,000 tourist arrivals and about $2 billion in earnings, Fernando said, adding his ministry would be targeting high end tourists and introducing new products in 2023.
Power Minister Kanchana Wijesekera said on Wednesday that the Indian Ocean island is also rolling back night-time power cuts in tourism zones, as the overall electricity situation improves from 13-hour power cuts earlier in the year.
Months of protests, political turmoil, power cuts and fuel queues dampened tourism in Sri Lanka just as it was recovering from the COVID-19 pandemic in mid-2022.
An estimated $4 billion loss in tourism revenue over the past two years also contributed to tipping Sri Lanka into the financial crisis, according to former ministers.
Sri Lanka signed a preliminary agreement with the International Monetary Fund (IMF) for a $2.9 bailout in early September but has to get prior financing assurances from private and bilateral creditors, including India, China and Japan before disbursements can begin.
