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Tokyo-based ITOCHU Corporation facilities. (Photo Credit: ITOCHU)

Japanese firm to invest in fishing sector

  (SRI LANKA, 6/28/2013)

Tokyo-based ITOCHU Corporation has offered to inject money into growing Sri Lanka's banana and fishing industries and to help expand the export opportunities for those products.

Specifically, ITOCHU has offered to invest in banana cultivation and tuna fishing, according to the Economic Development Ministry.

Kouhei Watanabe, chairman of the Japan-Sri Lanka Business Co-operation Committee and senior cooperate advisor to ITOCHU, met with the Minister of Economic Development Basil Rajapaksa and told him that ITOCHU was also working on developing Sri Lanka's infrastructure, transport sector and coal power plants. The discussion took place when Watanabe headed a Japanese business delegation to hold discussions with Minister Rajapaksa at the Ministry this week.

The chairman added that the president Mahinda Rajapaksa had discussed these issues during his latest visit to Japan.

The Minister noted that the coastal areas of Batticaloa and Kalpitiya are the most suitable for cultivating marine plants and farming marine animals such as shrimp and sea leeches, Colombo Page reports.

At the same time, he also acknowledged that his country’s prawn industry was up against certain setbacks, but that there seems to be a light at the end of the tunnel, as there are opportunities for improving the situation, LBT reports. 

He added that the prevailing peace, political stability, environmental responsibility, 24-hour power supply and availability of skilled labourers are attracting many foreign investors.

Industry and Commerce Ministry Secretary Anura Siriwardena in conjunction with numerous senior officials of ITOCHU Corporation, including its General Managers Masazumi Nishikage (Planning and Administration) and Kenji Tanaka (Marine Products), also attended the discussions.

By Natalia Real
editorial@fis.com
www.fis.com


Information of the company:
Address: 5-1, Kita-Aoyama 2-chome
City: Minato-ku
State/ZIP: Tokyo (107-8077)
Country: Japan
Phone: +81 3 3497 2121
Fax: +81 3 3497 6186
E-Mail: amlo@itochu.co.jp
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