News Today: Details on korean investments increase in sri lanka 2025 after reforms

Korean Ambassador to Sri Lanka, Miyon Lee, yesterday highlighted that the recent removal of key structural barriers has led to an increase in Korean investments in Sri Lanka. Speaking in Colombo, Ambassador Lee noted that previously, several obstacles—including the absence of large-scale infrastructure projects, complex tariff regulations, and cumbersome documentation processes for imports and exports—had hindered Korean investors from expanding their presence in the country.

However, Ambassador Lee warmly welcomed the ongoing reforms initiated by President Anura Kumara Dissanayake aimed at creating a more investor-friendly environment. “We welcome President Anura Kumara Dissanayake’s initiatives to attract more foreign investment by simplifying administrative procedures and launching new projects in energy, digital transformation, and industrial zone development,” she said.

The Ambassador expressed optimism that if these reforms continue as planned, more Korean companies will explore opportunities in Sri Lanka, especially in priority areas like renewable energy, water and waste management, and smart infrastructure. These sectors align closely with the government’s ‘Clean Sri Lanka’ and ‘Digital Transformation’ strategies.

She emphasized the need for a clear policy framework and strategic road map to guide international investors and boost long-term confidence in the Sri Lankan market. “Establishing clarity and strategic direction is essential for foreign businesses to make informed decisions,” she added.

Currently, around 20 to 30 Korean companies operate in Sri Lanka, active in sectors such as textiles, manufacturing, and electronics. Ambassador Lee believes that the removal of structural obstacles, combined with targeted reforms, could see this number rise further.

These developments signal renewed economic cooperation between Korea and Sri Lanka, paving the way for greater investment flows that could contribute to sustainable growth and job creation within the country.