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Bank of Tokyo-Mitsubishi UFJ ties up with Sri Lanka investment board

August 18, 2014

The Bank of Tokyo-Mitsubishi UFJ said Monday it and the Board of Investment of Sri Lanka agreed on a tie-up to promote foreign investment in the country.

The core banking unit of Mitsubishi UFJ Financial Group Inc. aims to strengthen its operation of supporting corporate investment in Sri Lanka where it does not have an office, jointly organizing investment seminars with the board and gaining relevant local information from the organization for companies interested in investing there.

Since the economy in Sri Lanka has been grown rapidly following the end of the civil war in 2009, foreign companies are increasingly interested in business opportunities in the country.

The investment board provides incentives such as preferential tax rates and reduced customs duties under certain conditions.

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Source: Japan Economic Newswire

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