Sri Lanka keen to attract Chinese FDIs:
Travel and tourism on the increase
A catalyst for investment is travel and tourism and the rise in the
number of Chinese tourist arrivals to Sri Lanka and the growing trade
between China and Sri Lanka is expected to increase the Foreign Direct
Investments (FDIs) from China and policymakers here will effect massive
changes in the Asian region, said Enterprise Development and Investment
Promotion, Minister, Anura Priyadharshana Yapa at the China Overseas
Investment Fair recently.
All products made in Sri Lanka enjoy duty free access to the European
Union which is one of the largest trading areas in the world. Hence the
European Union GSP+ is important to Sri Lanka which the Chinese
entrepreneurs need to consider seriously. Sri Lanka has the true
potential as an investment destination for Chinese enterprises, he said.
China has attracted US$ 92 billion in Foreign Direct Investment in
2008, which was about a 25 percent increase from the previous year and
sixty-four percent increase of outbound investment from Chinese
enterprises, which totalled US$ 41 billion. FDI is one of the most
influential forces for economic transformation. It is expected that the
economic landscape of Asia will be transformed by the inflows of FDI and
the sharing of technology between Asian countries.
He said that Sri Lanka is very keen to attract a quantum of this
Chinese investment and this will be a useful opportunity to make a
strong case for Chinese enterprises to opt to invest in Sri Lanka. China
has an important presence in Sri Lanka with the generous gifts it had
endowed Sri Lanka with, such as the BMICH and the Superior Courts
complex in 1970 and 1976.
Currently, work is under way to construct a National Performing Arts
Theatre in Colombo that will seat 1,250 spectators. The event organized
by the Board of Investment (BOI) in Beijing, Shanghai and Guangzhou,
highlighted Sri Lanka's potential. Many Sri Lankan entrepreneurs from
leading companies met their counterparts from the Chinese private sector
and discussed trade and joint ventures, he said. HP