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Progress Report Exhibition of Export Trade Investment & Tourism, Colombo, Sri Lanka.

Visit of Delegation of ABAD Colombo, Sri lanka From 27-March-12 to 02-April-2012 ABAD Delegation Progress Report Exhibition Sri Lanka

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Purpose of the visit: The delegation of ABAD under the chairmanship of Mr.Mohsin Sheikhani visited Colombo, Sri Lanka from 27 March 2012 to 02 April 2012. The invitation for this visit was extended by Honourable Consulate General of Sri Lanka, Mr. D. W. Jinadasa in a meeting held at ABAD House on 23 January 2012. The purpose of this visit was to attend the exhibition on Export Trade Investment & Tourism which was organized by Sri Lanka Export Development Board. The other purpose was to look for opportunities in real estate and construction sector in a fast developing Sri Lankan economy. The delegation of ABAD was represented by the Chairman Mr. Mohsin Sheikhani, Central Executive Committee Members Mr. Arif Jeewa, Mr. Junaid Taloo, Mr. Nasir Lakhani, Mr. Hanif Memon and other prominent members of ABAD, Mr. Mehmood Sheikhani, Mr. Mustafa Sheikhani, Mr. Hanif Abdani, Mr. Mumtaz and Mr. Ghani Usman.

Activities and Progress: The trip schedule was:

Day – 1, dated: 27-03-2012 The delegation departed for Colombo in Sri Lankan Air Line at 12:10 noon and reached Colombo air port at 4:00 pm local time; from there they reached Galadari Hotel. This day they took rest due to busy schedule next day.

Day – 2, dated: 28-03-2012 The delegation under the chairmanship of Mr. Mohsin Sheikhani visited the Sri Lanka exhibition at BMICH which is the largest exhibition and symposium center in Sri Lanka for export trade, investment and tourism, organized by the Sri Lanka Export Development Board. It showcases the best of the nation has to offer to the world and the best of Sri Lanka that includes everything from tea and rubber to apparel and ship building, and everything else in between.

ABAD Delegation Progress Report Exhibition Sri Lanka

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In the exhibition we enhanced our knowledge on getting new ideas which can be beneficial for our business sector. In the exhibition we had chance to meet the Honourable President of Sri Lanka where he welcomed our team and appreciated the efforts of Association Of Builders & Developers of Pakistan under the chairmanship of Mr.Mohsin Sheikhani and he agreed to give all support to Mr.Mohsin Sheikhani in ongoing development of Sri Lanka in real estate and construction sector. The day ended with good knowledge, awareness and meeting with people from different sectors from around the world in Sri Lanka.

Day – 3, dated: 29-03-2012 Day three started with an informal meeting with real estate consultants to grasp knowledge, along with the survey by visiting local Colombo areas. At 1:00 PM Meeting with a local estate agent At 2:00 pm Meeting with the local Sri Lanka Gen (Ex) Bureau Pk owner Mr. Riza Salim At 3:15 to 3:45 pm After having lunch the delegates visited the Exhibition Center till 3:45pm.

At 4:00 pm

After having lunch the delegates visited the Exhibition Center till 4 o clock. At 4:15 pm we were invited by the Chamber of Construction Industry of Sri Lanka, along with their representative Mr. Deshabandu Surath Wickrama Singhe, President of Chamber of Construction Industry Sri Lanka, Mr. Dakshitha Thalgodapitiya and the Executive Secretary Christen Tranchell. ABAD Delegation Progress Report Exhibition Sri Lanka

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Points of discussion:  In the meeting with the President of Chamber of Construction Industry the point discussed were investment in real estate sector.  Opportunities for foreign investors to buy land in Sri Lanka.  Requirement of low cost housing schemes , mix development projects, commercial shopping malls & hotels and hotel apartments.  Availability of building material, cement, steel & other items, their price structure.  Output of cement, steel factories, market size of housing industry.  Availability of skilled, unskilled there short fall which required to fulfill the market needs.  Benefits of investing & doing joint venture in state land owned by government of Sri Lanka.  Government bylaws of housing & construction industry, size of land and there architecture & structure rules & regulations.  Sharing the knowledge regarding Pakistan housing industry compared to Sri Lanka housing industry.  We also discuss the rate of land, rate of construction & rate of selling and the payment schedule, time period of payment schedule.

At 5:30 pm  Meeting with the Management Executive of Ceylon Chamber Of Commerce Mr. Satheeka Kavisekerah, Deputy Head of Mission Ms. Amna Baloch (Pakistan High Commission) and other representative of Pakistan & Sri Lanka Business Council.

ABAD Delegation Progress Report Exhibition Sri Lanka

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 In the meeting the Chairman Mr. Mohsin Sheikhani discussed the real state sector & housing industry of Pakistan & Sri Lanka.  Discussed on FREE Trade Agreement between Sri Lanka & Pakistan & FTA should be expanded further to other SAARC countries.  Discussed on bulk cement quantity and putting cement packing plants which can be beneficial for investor.  Doing joint ventures with local partner or with Government of Sri Lanka. The meeting ended with a mutually agreed discussion and future coordination with Ceylon Chamber Of Commerce & ABAD.

At 7:00 pm Meeting with Eng. M.A.C. Fazal, Director Training Municipal Council (Colombo). Points of discussion:  Municipal Bylaws of Colombo City.  Master plan in layout plan of how Colombo City divided in two parts.  High, middle and low areas were discussed.  Feasibility of investing in different areas of Colombo.  Cooperation of Municipal Department for overseas/foreign investor.

ABAD Delegation Progress Report Exhibition Sri Lanka

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Day – 4, dated: 30-03-2012 At 12:00 pm Mr. Shivan De Silva Executive Director (Promotion & Mega Projects) of Board of Investments & Mr. Priyankara Wilegoda Deputy Director (investments) of the Board Of Investments. Points of discussion:  In this meeting we discussed Board of Investment projects on state land.  The entire project in a joint venture with the Board of Investment in which the basic building material used in construction that can be imported on duty fee basis.  After the completion of project the required maintenance material will not be exempted from custom duty;  Project with the capital investment of $ 3 to 50-million is tax exempted for a period of 6 years to 25 years;  If we buy land from private owner in Colombo as overseas buyer than buyer has to pay 100% land transfer tax on the value of the property. If the Project cost is $ 50 million it is exempted from payment of Duty.  A 6 to 12 years tax holiday period has been introduced to large scale projects engaged in investment activities.

 Discussed legal issues, court issues, immigration & visa policy for investors related to import of skilled and unskilled manpower from Pakistan.

 The duty free import of construction material from Pakistan was also discussed.

ABAD Delegation Progress Report Exhibition Sri Lanka

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The meeting ended with beneficial information regarding the investment opportunities in Sri Lanka.

 The Chairman of ABAD presented ABAD shield to the representative of Board of Investment At 1:00 pm to 1:30 pm

At 3:30 pm A meeting with the Pakistan High Commission Seema Illahi Balouch and the Deputy Head of Mission Amna Balouch in Sri Lanka. A point worth mentioning is that the meeting time was 3:30 PM but Pakistani High Commissioner arrived only at 4:15 PM in contrast to several other meetings which started with punctuality. This was the only meeting where guests were present on time but the host was not there. Points of discussion:  In the meeting we discussed the support of Pakistan High Commission to the overseas investors.  Sharing of knowledge between Pakistan & Sri Lanka.  Creating employment for Pakistani skilled & unskilled labor in Sri Lanka.

ABAD Delegation Progress Report Exhibition Sri Lanka

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 Honorable High Commission of Pakistan in Sri Lanka assured Chairman ABAD & the delegation of full support to investors from Pakistan. 

The Chairman of ABAD presented the ABAD shield to the Honorable High Commissioner.

At 4:30 pm A meeting at the office of the Ceylon Industry and Commerce Minister Mr. Rishad Bathindeen M.P Points of discussion:  In the meeting we discussed that Sri Lanka is in an urgent need of infrastructure development which include road networks, overhead bridges and underpasses and sewerage system is required in future with high influx of people coming to Sri Lanka  We also discussed the requirement of energy that will be utilized with the future economic development, the sources of energy required which are presently available in Sri Lanka.  The price of energy is much higher in comparison to Pakistan due to the lack of resources of energy available

ABAD Delegation Progress Report Exhibition Sri Lanka

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 We discussed about the import and export deficit which is $10 billion at the moment. This is effecting the economy of Sri Lanka. Also discussed the ways that can be helpful for the improvement in the growth of the economy.  We also invited the Minister of Industry and Commerce to visit Pakistan along with a delegation of Sri Lankan real estate representatives to Pakistan.



The issues of skilled and unskilled labour of Pakistan that can be helpful in reducing the gap of labour shortage in Sri Lanka

 In the meeting we also discussed the support of Pakistan and the overseas investors.  Sharing of knowledge between Pakistan & Sri Lanka.  Honorable Industry and Commerce Minister Mr. Rishad Bathindeen M.P of Sri Lanka assured Chairman ABAD & the delegation of his full support to investors from Pakistan. 

Chairman ABAD presented the ABAD shield to Industry and Commerce Minister Mr. Rishad Bathindeen M.P.

Day – 6, dated: 02-04-2012 8:30 am At 8:30 in the morning there was a joint meeting with the President of the Chamber of Construction & Industry. Mr. Mr.Deshabandu Surath Wickrama Singhe and ABAD Chairman Mr. Mohsin Sheikhani mutually agreed to sign a memorandum of understanding, keeping in view to strengthening of cooperation between the Chamber of Construction Industry Sri Lanka and the Association of the Builders and Developers of Pakistan.

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To promote the development of economic and trade relations pertaining to the construction sector of the Democratic Socialist Republic of Sri Lanka and the Islamic Republic of Pakistan on the basis of equality and mutual benefit. The Chairman of ABAD presented the ABAD shield to the Honorable President of the Chamber of Construction Industry.

ABAD Delegation Progress Report Exhibition Sri Lanka

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Sri Lanka Expo 2012 - Progress Report by ABAD  

Delegation of ABAD led by Chairman ABAD, Mohsin Sheikhani visited Sri Lanka to Attend Expo 2012, in Colombo Sri Lanka from March l 27, 2012...

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