Japanese Chamber reps meet Finance Minister
A delegation of representatives from the Japanese Chamber of Commerce and Industry in Sri Lanka, accompanied by the Japanese Ambassador to Sri Lanka, Kenichi Suganuma, called on the Minister of Finance and Media Mangala Samaraweera, at the Ministry of Finance on Monday.
The representatives briefed Minister Samaraweera on various investment projects undertaken by the Japanese Chamber of Commerce and Industry in the country and exchanged views on the ease of doing business in Sri Lanka.
They apprised the Minister of issues faced by investors with regard to various tax reforms implemented from time to time.
The Japanese said that most of their products are being exported under forward contract with buyers and any sudden amendment to the tax regime may affect their exports.
They requested the Finance Minister to give them at least six months’ notice before the enforcement of any tax amendments, as it might have an adverse impact on exports. Minister Samaraweera said since Sri Lanka hopes to implement an investor and export friendly economic policy, it would implement tax reforms favourable to exporters. The Japanese Ambassador was accompanied by a high-profile business delegation comprising the Chairman/President of Training and Service Industry Group of Mitsubishi Corporation, Eiji Suga, Vice Chairman of Taisei Corporation, Hiroki Horikawa, Vice Chairman of Noritake Lanka Porcelain, Yoshinari Shimaya, Vice President of Itochu Corporation, Akira Matsui, Vice President of Oriental Consultants, Noboru Kitazawa, Vice President of YKK Lanka, Ryuhei Nagahata and Secretary General of the Japan External Trade Organisation (JETRO), Kazuhiko Obama.