Omani Investor delegation concludes productive visit to Sri Lanka with signing of MoU

Sri Lanka Embassy in the Sultanate of Oman organized a successful visit of an investor delegation to Sri Lanka from Omani Shumookh International LLC, which is an investment arm of Madayn – the Public Establishment for Industrial Estates of the Sultanate of Oman, under the investment bubble concept from 20-26 July 2021.

The delegation led by Shumookh International Executive Director Abdullah Al Bulushi called on President Gotabaya Rajapaksa and Prime Minister Mahinda Rajapaksa. The delegation also held a series of constructive discussions with Finance Minister Basil Rajapaksa; State Minister of Finance, Capital Markets and State Enterprise Reforms Ajith Nivard Cabraal; State Minister of Solar, Wind and Hydro Power Generation Projects Development Duminda Dissanayake; Governor of the Central Bank Prof. W.D. Lakshman as well as with various Government agencies and high level Government officials on the specific investment opportunities available in Sri Lanka. The delegation also paid field visits to potential investment sites in Colombo and Hambantota.

Omani Shumookh International LLC signed an MOU with the Urban Development Authority (UDA) of Sri Lanka expressing their interest for investments in selected projects. Omani delegation has also expressed interest for investing in the securities of the Government of Sri Lanka.

Shumookh Investment Services of Madayn has already submitted an investment proposal to the Government of Sri Lanka for the development of a 100 MW Solar Park in Siyabalanduwa in Sri Lanka.

Ambassador of Sri Lanka to  the Sultanate of Oman Ameer Ajwad earlier this year met with Chief Executive Officer (CEO) of the Public Establishment for Industrial Estates – Madayn as well as the Chairman of Shumookh Investment and Services of the Sultanate of Oman Sheikh Hilal Hamad Al Hassani and briefed  him on the unfolding investment opportunities in Sri Lanka. Ambassador Ameer Ajwad also organised an introductory meeting between State Minister Ajith Nivard Cabral together with the Central Bank delegation and the Madayn delegation headed by the CEO Sheikh Hilal Al Hassani during the former’s visit to Oman in April this year.

Embassy of Sri Lanka in Oman, jointly with the Omani Embassy in Sri Lanka, organised a visit of delegation from Shumookh Investment and Services SAOC comprising Chief Executive Officer Eng. Musallam Juma Al Hadaifi, Executive Director Abdullah Al Bulushi, and Shumookh Legal Counsel Robin Mande, headed by Ambassador of the Sultanate of Oman to Sri Lanka Al-Sheikh Jumah Hamdan Al-Shehhi in June 2021 under the investment bubble concept.

Ambassador Ameer Ajwad stated that the series of recent visits undertaken by the investor delegation from a high-profiled Omani establishment – Madayn, despite COVID pandemic travel restrictions, have demonstrated their keen interest in deepening economic engagement with Sri Lanka in particular, for investments in high-end commercial properties, selected infrastructure projects and securities in Sri Lanka.

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