The Sri Lanka - Nordic Business Council (SLNBC) is promoting Sri Lanka as an investment destination.
The Council will promote Sri Lanka among the corporate sector in various countries for opportunities available in the country.
There is room for suppliers and partners who has a competitive offering. There are many niche markets and products in Nordic countries.
There is a tremendous opportunity for the food processing in Norway. It is highly competitive, but for quality products there is always demand and a loyalty, Regional Contact Point of Norway Match Making Program and Advance Business Partner AS Managing Director, Tom Albrigtsen said.
He said another key sector at present is social media integration and applications, which has the potential to grow.
`Many companies have shown their interest in entering into this niche area, which has much potential in the global arena,` he said.
SLNBC will assist in providing an idea to corporate bodies around the world on how to approach a company in Sri Lanka, get to know about the market and also to sustain.
SLNBC will not offer investors a full overview about the industries. Speaking on How Sri Lankan Companies Can Match Opportunities in Norway Albrigtsen said investors should find innovative ways of fill the needs in the niche markets and products while finding it in a competitive manner.
This event was organized by Sri Lanka - Nordic Business Council held at the Ceylon Chamber of Commerce Auditorium yesterday.
Albrigtsen said: `Price is not important when it comes to business. There are much more to be considered while entering into a new venture.
The main objective of the commencement of the business should not be changed in the middle of the journey due to pricing matters.`
`It has to be completed and the response to the opportunity offered to the investor, where many investors fail to remember,` he said.
One to one meetings, seminars, trade fairs and exhibitions are important in seeking novel concepts of business opportunities.
The link between the investor and other parties are essential in business.
`Personal meetings are very effective. Trade fairs and seminars are important to meet many investors,` Albrigtsen said. The key opportunity areas are in alternate/renewable energy, garments and textiles, IT and BPO, light engineering and electronics, rubber, leather and ceramic gift items, building, processed food, fibber glass and boat building.
This meeting offered an opportunity for members to understand the current business opportunities in Norway and other Nordic countries. This also helped set up contacts by introducing themselves and their company products and services and share views for further development of trade between Sri Lanka and Nordic countries.