Sri Lanka encourages Chinese investment, ambassador says

A container ship is pictured docked at the Colombo South Harbour funded by China, in Sri Lanka March 30, 2016. [Photo/Agencies]

Sri Lanka encourages Chinese investment, especially in new technology, a government official of that country said.

Karunasena Kodituwakku, Sri Lanka's ambassador to China, made the remarks at a Dialogue in Tianjin Saturday and encouraged Chinese investment, especially in new technology.

The event was the fourth gathering of governors, journalists, scholars, businessmen, and citizens from Tianjin and beyond. The highlight of the afternoon was the ambassador's speech, during which he introduced Sri Lanka as a pearl and fast becoming a hub in the Indian Ocean.

He said that Sri Lanka would be open to all kinds of investment from China, but investment in new technology was most welcomed. "Youth today are more tempted to be engaged in new tech," he said.

Chen Weiming, vice chairman of the Tianjin Association for Friendship with Foreign Countries, noted "We have built a formal platform between the two countries and offered our various sources to eliminate the risks of foreign investments."

Zhang Bin, founder and inheritor of Jade Zhang, a traditional Tianjin brand selling jade and jewelry, said, "It was such an endurance to deal with the officials directly. The tax preferential policy sounds attractive and I hope they could be more open to small business."

With 30 years' experience in the jade trade, Zhang noted that the jade market in North China is very large and suggested, "Sri Lanka should bring more jade fairs to the North China."

The ambassador also said that Sri Lanka places great importance on the "One Belt One Road" initiative, such as the 21st century Maritime Silk Road, a great opportunity for cooperation between the countries.

Sri Lankan Prime Minister Ranil Wickremesinghe visited Beijing last month, seeking more investment possibilities.

More than 20 officials from Sri Lanka's Ministry of Agriculture visited an internet technology service provider in Beijing last Thursday, to gain better knowledge of mobile apps and easily accessible website-making software.

Sri Lanka has already collaborated with China in many ways, including education, infrastructure construction, import and export. In 2016, Sri Lanka expects 320,000 Chinese tourist arrivals, which is 1.5 times that of 2015.