National Association of Builders (NOSTROY) Visits Sri Lanka to Explore Investment Opportunities and Signs a Cooperation Agreement in Foreign Employment opportunities in Russia
The Embassy of Sri Lanka in Moscow facilitated a visit by a high-level business delegation led by Mr. Anton Moroz, Vice President of NOSTROY, aimed at exploring investment opportunities and strengthening bilateral cooperation in the construction and infrastructure sectors.
The delegation held high-level discussions with Minister of Transport, Highways and Urban Development, Bimal Ratnayake, Deputy Minister of Foreign Affairs and Foreign Employment, Arun Hemachandra, Deputy Minister of Tourism, Prof. Ruwan Ranasinghe and Chairman of the Board of Investment of Sri Lanka, Duminda Hulangamuwa, and Senior Advisor to the President.
Discussions centred on prospects for Russian investment and collaboration in Sri Lanka's construction sector, including urban infrastructure, road and bridge construction, and the development of modern transportation hubs. The delegation reaffirmed its interest in pursuing mutually beneficial partnerships to support Sri Lanka's economic development and to strengthen bilateral business ties.
During this visit a Memorandum of Understanding (MoU) was signed between the Sri Lanka Foreign Employment Agency (SLFEA) and NOSTROY on the training and qualification assessment of foreign specialists in the construction sector. The MoU establishes a framework for long-term cooperation on foreign employments opportunities, including a mechanism for vocational training and qualification assessment of Sri Lankan citizens seeking employment in the construction of Russia.
NOSTROY is the largest self-regulatory association in Russia's construction sector, comprising 251 self-regulatory organizations and over 105,000 construction companies, representing more than 50 per cent of the industry in Russia.