Courtesy The Daily Mirror

Sri Lanka will see Vietnam venturing into its business landscape, as the latter’s largest private conglomerate Vingroup has been invited to explore investment opportunities in the island’s tourism and real estate sectors.

The invitation was extended by President Anura Kumara Dissanayake during a high-level business engagement held at Vingroup’s headquarters in Hanoi, on May 4, as part of his official state visit to Vietnam. While congratulating the group on its growth and diversified global presence, Dissanayake shared that Sri Lanka is pleased to facilitate the creation of a smooth and enabling environment for its investments. 

He met with Vingroup Vice Chairman and CEO Nguyen Viet Quang and senior leadership, where he highlighted the country’s strategic geographic position and infrastructure advancements.

He also reaffirmed the government’s commitment to nurturing a favourable climate for foreign direct investment, especially in high-growth sectors such as tourism and real estate. Founded in 1993 in Ukraine, Vingroup Joint Stock Company has evolved into one of Vietnam’s most respected multisector enterprises. It operates across three core pillars: industrials and technology, real estate and services and social enterprises. The meeting also saw the participation of Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath.

Sri Lanka-Vietnam ink 5 key agreements in Hanoi

Sri Lanka and Vietnam signed four memoranda of understanding (MoUs) and one agreement, in the presence of President Anura Kumara Dissanayake and Socialist Republic of Vietnam President Luong Cuong. 

The signing took place following the bilateral discussions held at the Presidential Palace in Hanoi yesterday morning, according to the President’s Media Division.

Among the agreements signed was a bilateral pact aimed at enhancing cooperation and mutual support in customs affairs between the Democratic Socialist Republic of Sri Lanka and Socialist Republic of Vietnam.

The MoUs signed include an MoU between the Industry and Trade Ministry of Vietnam and Industry and Entrepreneurship Development Ministry of Sri Lanka on cooperation in machinery and equipment manufacturing, an MoU between the Vietnam Academy of Agricultural Sciences and Agriculture Department of Sri Lanka on cooperation in agriculture, an MoU between the Bandaranaike International Diplomatic Training Institute of Sri Lanka and Diplomatic Academy of Vietnam and an MoU between the Vietnam Trade Promotion Agency and Sri Lanka Export Development Board on trade promotion cooperation.