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manusath-derana

41 Chinese companies invest more than USD 2 Bn

November, 22, 2017

According to the Board of Investment (BOI) that 25 Chinese companies that have invested and operating in Sri Lanka as BOI enterprises and further nine Chinese enterprises are awaiting commercial operation while 7 more have been approved.

China with a cumulative FDI of USD 1.1 billion for the period 2005-2016 is the 3rd ranked source of Foreign Direct Investment (FDI) for Sri Lanka. In addition, another USD 1.145 billion of Sri Lanka’s FDI in 2005-2016 originated from Hong Kong. (ranked second place), the BOI added.

Meanwhile, the BOI hosted a delegation from China consisting of 30 Senior Government officials on a fact finding mission visit to ascertain the potential of Sri Lanka as an economic partner for trade, tourism and investment. The delegation was led by Mr. Xiao Ping, Vice Chief Executive of the People’s Government of Shijingshan District of Beijing and included a number of senior officials from other provinces of China.

The Chinese visitors were briefed by BOI on Sri Lanka’s business friendly environment and on the current status of investment in the country. Dilip S Samarasinghe, Director (Media & Publicity) made a presentation to the Chinese delegation. Following the presentation Mr. Xiao Ping stated “my delegation is very pleased to visit Sri Lanka, which is a beautiful country. We deeply appreciate the warm welcome of the Sri Lankan people and the citizens of the great city of Colombo”.

A delegate representing the wealthy Shijingshan District said that he would promote Sri Lanka for future investment and trade to the 8 leading enterprises. Currently his Government had targeted the development of several green universities within the 84 Sq. Km District. The District is also famous for finance and industry.

Another delegation hailing from Jilin Province in the North East of China, also visited the BOI recently. Jilin borders North Korea and Russia. It is a province that is rich in mineral resources industries includes automobile and railway carriage manufacture and other steel based products. The capital of Jilin Province is Changchun. This delegation’s visit to Sri Lanka was organized by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCSL) and was led by Mr. Sun Guohua, Vice Director General of the Department of Commerce of China.