Saudi Arabia to Boost Sri Lanka’s Development with Key Investments

News Today: Saudi Arabia Set to Invest in Sri Lanka’s Tourism and Infrastructure Growth

Foreign Affairs Minister Vijitha Herath revealed that Sri Lanka has requested Saudi Arabia to strengthen its partnership in the nation’s development process by investing in key sectors such as tourism, the Dedicated Pharmaceutical Zone in Hambantota, IT Parks, the Fabric Park in Batticaloa, Colombo Port City, and Hambantota Port. The Minister expressed gratitude to Saudi Arabia for consistently supporting Sri Lanka at the UNHRC and for extending aid to the country’s debt restructuring efforts.

Minister Herath also highlighted Saudi Arabia’s long-standing contributions through the Saudi Fund for Development, which has funded 13 major projects in Sri Lanka, covering areas such as water, energy, health, and education since 1981. Notable initiatives include the development of the Peradeniya-Badulla-Chenkaladi Road Project, Wayamba University Township, and the Epilepsy Hospital Project. These projects have significantly improved the quality of life for many Sri Lankans.

Additionally, Minister Herath praised Saudi Arabia for providing employment opportunities to around 200,000 Sri Lankan workers, facilitated by a recent Agreement on Skill Verification that helps skilled workers secure jobs in the Kingdom.

Finally, he announced that Sri Lanka will introduce visa-free access for citizens from 35 countries, including Saudi Arabia, starting from October 1, 2024.