Promoting Vietnam-Sri Lanka investment and trade cooperation
WVR - On October 31, in Colombo, the Vietnamese Embassy in Sri Lanka, in collaboration with the Mekong Sri Lanka Business Council, organized a seminar titled “Business - Investment in Vietnam: Opportunities, Challenges, and Strategies for Sri Lankan Enterprises”.
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The seminar was held both in-person and online, chaired by Ambassador Trinh Thi Tam and Nimal Ratnayake, Chairman of the Mekong Sri Lanka Business Council.
Attendees included representatives from Vietnam's Ministry of Industry and Trade, the Vietnam Trade Office in India, embassy staff, and nearly 100 delegates from associations under the Mekong Sri Lanka Business Council and Sri Lankan businesses interested in the Vietnamese and ASEAN markets.
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| Nimal Ratnayake, Chairman of the Mekong Sri Lanka Business Council, speaking at the seminar. |
In his opening remarks, Chairman Nimal Ratnayake praised the embassy's initiative, stating it provides an opportunity for Sri Lankan businesses, especially MBC members, to gain a deeper understanding of the Vietnamese market, particularly regulations and procedures, thereby strengthening their resolve to invest and do business in Vietnam.
Chairman Nimal Ratnayake also mentioned the target of $1 billion in trade turnover, agreed upon in the Joint Statement during Sri Lankan President Dissanayake's state visit to Vietnam in May 2025. He emphasized that achieving this goal requires significant and well-coordinated efforts from both governments and businesses.
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| Ambassador Trinh Thi Tam speaking at the seminar. |
Ambassador Trinh Thi Tam noted that bilateral trade between Vietnam and Sri Lanka has recently reached approximately $300 million annually. The South Asian nation currently has around 30 investment projects in Vietnam, valued at over $42 million. She assessed that there are still many untapped opportunities and potentials between the two countries.
The ambassador emphasized that with their strong traditional friendship, Vietnam and Sri Lanka are well-positioned to further expand economic, trade, and investment cooperation, as well as collaboration in other key sectors such as agriculture, fisheries, tourism, and education. She affirmed that the embassy is always ready to provide information, connect, and support Sri Lankan businesses in seeking business and investment opportunities in Vietnam, and assist in resolving any challenges they may face.
During the thematic presentations, the embassy detailed policies on investment attraction, administrative procedure reforms, and digital transformation in the economic sector. They highlighted areas Vietnam prioritizes for cooperation, such as high-tech agriculture, processing industries, textiles, renewable energy, logistics, tourism, and information technology. Vietnam's strategic location in Southeast Asia, developed port infrastructure, competitive labor costs, and extensive FTA network make it an ideal destination for Sri Lankan businesses looking to expand production or join regional supply chains.
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| The Vietnamese Embassy in Sri Lanka also provided detailed information on investment attraction policies, administrative reforms, and digital transformation in the economic sector, along with Vietnam's prioritized areas for cooperation. |
Representatives from the Mekong Sri Lanka Business Council assessed that Vietnam is emerging as an “economic gateway” of the Mekong sub-region, playing a crucial role in trade connectivity between Southeast Asia and South Asia. They recommended Sri Lankan businesses consider investing in sectors such as food processing, tea and coffee export, textiles, e-commerce, and vocational education. The council expressed readiness to coordinate business connection programs and provide specific investment strategy advice for Sri Lankan partners.
Additionally, Sri Lankan businesses highly valued the potential and stability of Vietnam's investment environment, particularly impressed by the Vietnamese government's green economic development and digital transformation policies. Some businesses expressed interest in exploring cooperation opportunities in tourism, logistics, agriculture, construction, wastewater treatment, supporting industries, consumer goods import-export, and building materials. They also inquired about Vietnam's policies related to BPO (Business Process Outsourcing).
Furthermore, some businesses proposed more convenient and longer-term visas for enterprises and the establishment of direct flights to facilitate trade and connectivity. They also explored the possibility of the two countries signing a bilateral FTA/BTA soon.
From their side, representatives from Vietnam's Ministry of Industry and Trade pointed out that some Vietnamese businesses face export difficulties due to Sri Lanka's relatively high tariffs, especially on electrical and plastic products.
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| Delegates attending the seminar. |
Concluding the seminar, the parties agreed to enhance regular information exchange mechanisms between the embassy, the Mekong Sri Lanka Business Council, and Sri Lankan business associations. They also proposed organizing a delegation of Sri Lankan businesses to visit Vietnam for on-site surveys in 2026. On this occasion, the embassy introduced Vietnamese cuisine and coffee to Sri Lankan businesses.
The seminar is one of the key economic diplomacy activities implemented by the Vietnamese Embassy in Sri Lanka in 2025, marking the 55th anniversary of diplomatic relations between the two countries (1970-2025). It contributes to enhancing mutual understanding, promoting bilateral investment and trade cooperation, and showcasing Vietnam as an attractive, safe, and sustainable investment destination in Asia.
(Source: Embassy of Vietnam in Sri Lanka)
