manusath-derana

China backed Sri Lanka Port City targeting Indian investors

September, 14, 2018

World’s largest population China funded Sri Lanka’s Colombo Port City is targeting Investor’s from World’s second largest population – India officials said recently addressing Sri Lanka Economic Forum in Colombo organized by the Ceylon Chamber of Commerce.

“Sri Lanka’s Colombo Port City’s financial centre aims to attract investors from the region, especially Indians and expatriates based in India, ” Liang Thow Ming, Chief Sales & Marketing Officer, CHEC Port City Colombo (Pvt) Ltd. said adding that the project is targeted towards the region.

“We are infrastructure developers – that’s what we can produce. If you consider what we can produce is a glass, then how fill the glass with water depends on the country policies” Thow said stressing the importance of policies related to investments.

Further outlining on the project he said that the residential, commercial and retail space the Port City project creates will be several orders of magnitude more than existing facilities, in Sri Lanka and abroad, which was what investors were looking for. According to him commercial facilities will be much bigger than that in Canary Wharf in London and the next part is to attract investments into the Port City – foreign direct investment and domestic investments - which depends on the country’s economic policy.

According to him the Colombo Port City financial centre was well located to serve the Indian market, and there were no similar facilities in South Asia while Singapore served south east Asia and Dubai west Asia.

“The five states in southern India is a huge market” Thow said adding that Indians are parking money in Dubai while 35% of money parked in Mauritius comes from India.

- Reporting by Devendra Francis