China’s Tiens Group enters Sri Lankan e-commerce arena
View(s):Tiens Group, another Chinese multinational conglomerate, is ready to set foot in Sri Lanka with a minimum investment of over Rs.2.3 billion (10,000,000 RMB) in a major business expansion drive under the company’s flagship initiative ‘One body-Multiple wings.’
This was stated by the head of this Multi-national conglomerate, Chinese billionaire businessman Li Jinyuan in an interview in Colombo with the Business Times recently. He pointed out that his company is looking at the Iranawila golf course and wellness hotel project investment positively.
Mr. Li Jinyuan with the PM.
Founded in 1995 by Mr. Jinyuan in Tianjin city of Northern China, Tiens group, has a presence in fields like biotechnology, education, retail, tourism, finance and e-business. He is hailed by the international media as the world’s ‘best boss’ for his generosity towards employees winning their hearts by arranging holiday tours for them in foreign countries spending millions of dollars.
He is a highly successful Chinese entrepreneur who formed one of the world’s largest health-focused organisations, Tiens Group, with millions of customers in most countries of the world. He is also a philanthropist who has given millions of dollars for humanitarian causes in many countries worldwide including Sri Lanka.
Mr. Jinyuan expressed his optimism in Sri Lanka’s potential for massive development after seeing the rapid modernisation in Colombo and suburbs during his recent visit to the island. He disclosed that almost eight years have gone by in a flash after his previous visit to the island; and the country has developed in many ways creating conducive environment for foreign investment.
Tiens Group has introduced nine sectors of developing platforms to the business, he said adding that in line with Sri Lanka’s developing path, the company will expand the business in tourism, finance, great health industry (Tai JiShen), international hotel alliance , real –estate and pharmaceutical factory etc.
It will enter into the country’s online market in a big way through its local franchise holder Richy (Lanka) Trading (Pvt) Ltd venturing into e-commerce business, he revealed. More and more consumers are using Tiens products, as the company plans to popularise the traditional Chinese health culture in the market and weave it into the fabric of the local society, he said.
The company is exploring the possibility of building a large production base in Sri Lanka, providing formula and technical support, he disclosed noting that it will introduce China’s quality healthcare products, and cooperate with local universities and research institutes to set up research and development centres to produce suitable products.
Mr. Jinyuan said he met Prime Minister Ranil Wickremasinghe during his tour of Sri Lanka and the meeting went very well.
He disclosed that the Prime Minister made an impressive introduction about Sri Lanka outlining the development directions and very important relevant information.
He noted that now he has a clear path, clear vision about Sri Lanka and clear methods to follow and he will analyse and make relevant project proposals very soon. Mr. Jinyuan also visited the Kotte Raja Maha Viharaya, Parliamentary complex and Katubedda University during his stay.
Tiens Group has always pursued the philosophy of “becoming from the society and serving the society” and is committed to corporate social responsibility. As of today, the group has invested more than 1.5 billion yuan in charitable and public welfare undertakings.