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22 January, 2016 09:12 AM Source: Financial Times - Sri Lanka
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Japan’s Bank of Tokyo-Mitsubishi UFJ Ltd. (BTMU) yesterday announced the commencement of its business operations at the representative office in Colombo to promote investment between the two countries.

Noting that Sri Lanka is one of the countries where Japanese direct investments have been growing, BTMU Asia and Oceania CEO Go Watanabe said they intended to establish a presence locally which would not only benefit BTMU, but also contribute to the economic growth of the country.

“We are honoured to be the first Japanese bank to be granted approval to open a representative office here in Sri Lanka and with this we can gain greater insight into the local market. This helps us to provide timely support to our customers who are based here or plan to establish a footprint here. We look forward to partnering you in further developing the economic and financial industry in Sri Lanka,” he added.

The new BTMU Colombo office will play a critical role in facilitating greater cross border investments between Sri Lanka and BTMU global network, which extends to over 40 countries.

Watanabe pointed out that as Sri Lanka looks to fast track growth the bank would allow financial institutions and local companies to tap into their BTMU global network to gain access to global financial markets for their funding needs.

He went on to say the representative office in Colombo will focus on supporting Japanese companies for their investment activities in Sri Lanka; managing relationships between BTMU and Government institutions or customers in Sri Lanka and conducting research into the political and economic situation, financial market and business environment in Sri Lanka.

The establishment of the new representative office would further deepen their presence in the Asia and Oceania region — particularly in South Asia, where the bank has eight offices.

“Now we believe that Asian market including the South Asian market is our most important core market, which is why we have a strong commitment. It is a long prospective commitment. We think of the long-term relationship with our customers and people,” he stressed.
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