Canadian-based electronic lifecycle administration company, CIS, has expressed interest in exploring investment opportunities in Sri Lanka. The company, led by Sri Lankan entrepreneur Stan Muthulingam, specializes in IT resource and asset disposal services.
Muthulingam recently hosted Dilum Amunugama, Sri Lanka’s State Minister, at CIS’s Toronto office. The visit aimed to showcase CIS’s operations and explore potential for establishing a manufacturing presence in Sri Lanka.
The State Minister was impressed by CIS’s capabilities and identified the possibility of leveraging Sri Lanka’s advantageous position for regional exports. Sri Lanka’s existing Free Trade Agreements (FTAs) with India and Pakistan could offer significant benefits for CIS products manufactured in the country.
Kula Sellathurai, the BOI’s investment promotion representative in Canada, and Asanka Welagedara, a Director at the BOI, accompanied the State Minister on the visit. Sellathurai, a prominent Canadian business figure, played a key role in facilitating this potential investment opportunity.
This development highlights the growing interest in Sri Lanka as a manufacturing hub. CIS’s potential investment could bring valuable expertise and create export opportunities, contributing to Sri Lanka’s economic development.