Sri Lanka seeks to attract Chinese investments

Susantha Ratnayake, Chairman, BOI formally presents the Certificate of Registration to Indra Silva, Chairman, Indra Hotels and Resorts Kandy (Pvt) Ltd

July 24, 2007 (LBO) – A Chinese trade and investment delegation is visiting Sri Lanka and is especially keen on doing business in the construction sector, Board of Investment officials said Tuesday. The team, from the China Council for the Promotion of Investment (CCPIT) in Shanghai, held talks with Investment Promotion Minister Sarath Amunugama and BOI officials.

“The Chinese investors have come to look at the possibility of investing in Sri Lanka, mainly in the construction sector,” a BOI spokesman said.

Amunugama touted Sri Lanka’s free trade deals with India and Pakistan as well as the GSP Plus trade agreement with the European Union saying Chinese investors could access these markets by setting up plants in the island.

The possibility of setting up investment zones dedicated to specific nations like China and India was an option being look at by the BOI.

As the CCPIT delegation was mainly interested in the construction and infrastructure sector, a visit was arranged for them to the Havelock City Project, currently under construction.

The Havelock City is a massive construction project for both housing and commercial purposes undertaken by the Shing Kwan Group of S.P T