Investment Promotion State Minister Dilum Amunugama said that he has succeeded in obtaining over USD 550 million worth of Foreign Direct investments (FDI) to Sri Lanka after he visited and met Chinese investors last week.
He said that all these investments would be centered on the Port City Colombo. In addition, Chinese have also expressed interest in setting up a special Export Processing Zone in Hambantota. They have selected Hambantota mainly due to its having an international harbour which makes import of raw material and re export economical.
One of the biggest projects would be the establishing of a comprehensive International University at the Port City Colombo. “This would be with hostel facilities and is planned to attract foreign students.”
The total investment would be around USD 400 million. In addition Chinese investors have expressed interest in setting up an international gem trading/auction centre at the Port City Colombo. They will also have a gem museum to attract tourists.
“As a country, China is the largest foreign direct investor in Sri Lanka and has contributed to uplifting the foreign direct investment threshold.”
Amunugama also addressed three main global investors’ summits on this visit. They were the 23rd China International Fair for Investment Promotion and Trade, Fifth Silk Road Maritime International Cooperation Forum and 2023 Sino-Sri Lanka Investment and Promotion Economic Forum. In all of these forums, Amunugama was invited to deliver a speech. Parallel to these events, Amunugama had discussions, met the Chinese Communist Party Leader and Governor of Fujian Province Zhao Long and discussed promoting investment and also tourism to Sri Lanka. The Chinese counterparts were also looking at manufacturing medical equipment for export.
The Minister said that subsequent to this visit representatives related to these investments would visit Sri Lanka next month. “We are hoping to offer them land at the Port City Colombo and sign some BOI agreements during the next two months.”
Shirajiv Sirimane
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