May 21, 2018

Organic economy platform for Korea - SL cooperation

A delegation of Korean SOiVA Telecom company visiting Sri Lanka between May 10 and  23 has initiated an investment program intended for sustainable development and job creation in the country.

These Investments are novel and meaningful for Sri Lanka with long term development and innovative management concepts. With their value based management system, each partner would actively get engaged and can work properly for ethical and economic benefits.

This company will register as KOLANKA GROUP INVESTMENT (PVT) LTD, a joint venture company in Sri Lanka. With their initiation, company also is seeking long term investments. Ethically sound and socially sustainable business will be the key focus areas of this investment program. There are lot of inter connected community based activities can be done with these projects.

Main interest of the investors is on organic food production which will be headed for local and international export market. Their interest area is working with different farming organizations and societies to create as many jobs as possible in this country. Building operation with Rural community in the country will be one interesting aspect of this investment and they have already received the blessing of two chief monks in Kandy.

Main investment sectors are as follows;

1. Developing Organic value Chains and Organic Agriculture Sector.
During their visit, they already agreed to cooperate with organic farmers groups in Dambulla area. It will be integrated development of organic farms into multi-faced high value organic center of the, that region including organic food production, eco-tourism with ayurvedic plants and healing therapies, processing and training of the farmers.

Traders association in Dambulla Economic Center will develop their cooperation with this investment group for improving organic farming trends and farmers nationwide. Post-harvest facilities and transportation system will be major investment target.

We have bean also together with Organic community, they agreed to develop new organic movements in the country to provide new hopes to young generation for the future. For this movement, highest monk agreed to fully support the project.

Ministry of development strategy and international trade suggested 500 farmers in Kandy area. The Ministry is planning to provide one acre land among 500 farmers within a period of one month. This farming group would be a good cooperation model for the investors to develop organic farming areas.

This investment program has shown its strong interest to develop 100% purely organic sanitary pad for women and which will be distributed to the pregnant women in China and Korea. This will help reinitiate the traditional handloom industry in the village and create substantial jobs for the rural women in the different areas.

2. Green Energy
No sound, no Heat on New tech based Korean wind generator installation was another sector of investor concern. 1000 MW electricity production using latest wind generator was discussed with government and investing company agreed to invest for this sector as well. Soon there will Korean technology expert group will visit Sri Lanka to find out feasible areas.

3. Industries and technological applications
Small machinery manufacturing in the area affected by war was discussed. To provide as many jobs as possible to the war affected zone, investor has shown active interest to bring small machinery manufacturing industry to Sri Lanka.

4. New Banking Model
Together with People’s Bank, investing company has shown interest in developing global card system that can guarantee the salary of Sri Lankan workers living overseas. This card system will work as the forefront of expansion of Sri Lankan economy to global world.

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