Chinese LED, Mobile manufacturers eye Hambantota FTZ | Daily News

Chinese LED, Mobile manufacturers eye Hambantota FTZ

President of CMSMI, Nawaz Rajabdeen welcoming Executive Vice Chairman Asia Pacific Exchange and Cooperation Foundation, Xiao Wunan. APTA CCI, Coordinator, Hui Dias Bandaranayake and Vice President, CMSMI, Mackey Hashim look on.
President of CMSMI, Nawaz Rajabdeen welcoming Executive Vice Chairman Asia Pacific Exchange and Cooperation Foundation, Xiao Wunan. APTA CCI, Coordinator, Hui Dias Bandaranayake and Vice President, CMSMI, Mackey Hashim look on.

The Executive Vice Chairman of the Asia Pacific Exchange and Cooperation Foundation, Xiao Wunan, left Sri Lanka yesterday, after meeting with Prime Minister Ranil Wickremesinghe and Senior Government Ministers.

An influential business leader from China, Wunan is also the Vice Chairman of China Association of Social Economic and Cultural Exchange and International Chairman of Religion and Cooperation Organization, United Nations.

Speaking to the ‘Daily News’ yesterday, he said that increasing FDI from China and assistance for more infrastructure projects were among the main subjects discusses with the Government. “These also include busing new highways.”

He said that he was impressed with the Hambantota Free Economic Zone (HFEZ) concept and its close proximity to the International Harbour which permits companies to manufacture and export to the region and beyond. “The FTA with India and Pakistan would also help export over 3,000 items tax free, which is a major encouragement for Chinese companies to invest in the HFEZ.”

He also observed that there is a huge demand for LED and Mobile spare parts and he would promote investors involved in these segments to look at the HFEZ for their future projects. “I have observed that Sri Lanka has graphite and other mineral deposits which are exported with almost no value addition and the LED and Mobile manufactures could use such raw materials for their prosecution process.”

“Chinese investors are also looking for opportunities to be involved in the transportation sector of Sri Lanka.” Wunan who is also a Senior Consultant, Oxford Economics, London, met with the senior management of the newly formed Confederation of Micro, Small and Medium Industries (CMSMI) and promised to send industrial manufactures from China for an industry exhibition which would be hosted in Colombo next year.

Coordinator, Asia Pacific Trade Agreement Chamber (APTA CCI) Hui Dias Bandaranayake, said that Chinese companies are keen to do business with Sri Lanka due to its geographical advantage and also for the fact that the island is placed in China’s Beat and Road initiative.

“The proposed FTA with China, the Port City and Hambantota Harbour Free Zone too are other major attractions that brings in more Chinese investors to Sri Lanka.”

Executive Vice Chairman, Asia Pacific Exchange and Cooperation Foundation, Xiao Wunan welcoming the President of CMSMI Nawaz Rajabdeen, said that their association is keen to acquire Chinese technology, especially for the SME sector to help them reach the next level of business.”

 


 

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