Following the government's decision to implement the Strategic Development Project Act, Pharmaceutical industry has been selected as one of the thrust industries to develop in order to bring down foreign direct investments to the country by establishing the special pharmaceutical zone in Hambantota.

In line with the proposal of attracting the top most companies in the world to invest in this zone, the Embassy of Sri Lanka in Moscow organized an online meeting with the participation of Board of Investment, State Pharmaceutical Cooperation of Sri Lanka, the Ministry of Industry and Trade of the Russian Federation, Russian Direct Investment Fund, Russian Union of the industrialists and Entrepreneurs and one of the largest international innovative biotechnology companies in Russia CJSC "BIOCAD" on 7 April 2021.

In his welcome speech, Ms. Mohamed Anas, Minister Counsellor of the Embassy underlined the importance of the bilateral relations development between the two countries and expressed the intention of the Embassy to facilitate collaboration in pharmaceutical sphere.

Mr. Piyadeva Karunatilake, Deputy Director of Board of Investment of Sri Lanka along with Mr. Madhushani Seneviratne delivered comprehensive presentation on the advantages and benefits for investors in Hambantota Pharmaceutical Zone.

The State Pharmaceutical Corporation of Sri Lanka was represented by Dr. Prasanna Gunasena, the Chairman who paved the way to establish first direct contact between Sri Lanka and the Belarus pharmaceutical business.

The representatives of the pharmaceutical sector of Russian Federation have been guided through all the possible advantages and benefits of participating in the project.
The discussion aroused keen interest in the audience. The Chairman of the State Pharmaceutical Corporation of Sri Lanka, for his part, expressed his readiness to cooperate with Russian partners both in terms of investments and in terms of the supply of medicines to the territory of Sri Lanka, including for the needs of public hospitals.

The discussion was fruitful and informative, which allows us to hope that it will result in prospective cooperation between the enterprises of the pharmaceutical sector of the Russian Federation and Sri Lanka.