Taiwan seeing Sri Lanka as a ‘well-suited location” for its investors

By Hiran H. Senewiratne

Sri Lanka is a well suited location for Taiwan’s labor-intensive manufacturers to invest in and set up factories, which will create a large number of employment opportunities for the country, Director General, Taipei Economic and Cultural Center in Chennai Ben Wang said.

“I know that Sri Lanka has an excellent location, a good port and abundant manpower for Taiwan business persons to invest in. In addition to that Sri Lanka can also carry out tourism and labor cooperation projects with Taiwan, Wang said at the 111th National Day of the Republic of China (Taiwan) in Colombo recently.

Wand added: “Taiwanese businessmen have also realized a harsh reality in not relying too much on a single country or market and have increasingly sought alternative production and manufacturing bases outside of China or Vietnam.

“As far as I knew, there have already been more than 1200 Taiwanese companies moving out from China and bringing about US$ 60 billion back to Taiwan.

“Therefore, the world economic center has gradually shifted to South Asia and Sri Lanka and India are both key countries in Taiwan’s New Southbound Policy. How can we miss this great opportunity to work and cooperate?

“It is the right time to implement the policy which will further help both countries create mutually beneficial results and especially help Sri Lanka effectively solve its financial problems.

“There has been a lack of exchange activity, mutual understanding and communication channels between Taiwan and Sri Lank for a long time. Sri Lanka, a Non-aligned country, has its own unique diplomatic traditions.

“I can make a foregone conclusion that it is very difficult for both sides to actively promote cooperation in the short term. Anyway, from a long-term perspective, Taiwan and Sri Lanka should continue to try to communicate and exchange, benefits from which will really improve the lives of Sri Lankan people.

“Sri Lanka government should voluntarily abolish “Identification Declaration for Visa Purpose” and it is a decades-long discriminatory treatment against Taiwan citizens who facet upon entering Sri Lanka.

“I am convinced that such abolishment will be deemed as a friendly gesture to the Taiwan government and thus will help pave the way for boosting various exchanges and attracting more tourists and investors from Taiwan, especially in the post-pandemic era.

“If the Sri Lankan government changes its mind and takes action to revive the relationship between Taiwan and Sri Lanka, it will absolutely have an immediate positive impact on both countries.

“Covid-19 is a wake-up call and has profoundly affected our world. It has changed the global political and economic order, accelerated and expanded the reorganization of global supply chains, restructured the global economy, and changed the way we live.

“Taiwan’s government has developed a set of its own unique economic strategies in an attempt to inject new momentum into the post-pandemic economic recovery, which Sri Lanka could reap benefits from.”