PM meets success in China, JVs on the cards
From Feizal Samath in Beijing
It was more than a mixed bag of goodies for Sri Lankan Prime Minister Ranil Wickremesinghe when he wrapped up a four-day official visit to China last week.
While obtaining aid pledges from Chinese leaders for economic development, Mr. Wickremesinghe was also happy with the progress shown by the accompanying private sector delegation.
Many of the business leaders had fruitful discussions with potential Chinese partners and are close to finalising joint ventures and other trade-related projects.
Premier Wickremesinghe made a ringing call for foreign investment in Sri Lanka when he addressed a trade, investment and tourism conference organized by the China Council for the Promotion of International Trade (CCPIT) and the Sri Lankan embassy, at the Kerry Centre Hotel, a popular businessmen's hotel and convention centre. Embassy officials said the hotel was picked as the venue of the conference since the Malaysians also had a successful meeting there recently.
Referring to China as one of the most dynamic and fastest growing markets in the world, Mr. Wickremesinghe likened the Sri Lankan case to Hong Kong serving as the gateway to China. "Because of our size, strategic location and quality human resources, we in Sri Lanka see the same opportunities for such a role in South Asia," the prime minister said strongly recommending that Sri Lanka could be the gateway to India.
He dealt in detail about the economy, the ports and its advantageous position as a hub in the region and spoke about the relaxation of foreign exchange controls enabling investors to repatriate all their profits whenever they like, among other issues.
Inviting Chinese businessmen to come and see for themselves the benefits of doing business in Sri Lanka, the premier said if they do visit Sri Lanka they would find "a new partner, a trade partner ready and willing to make a success of the new opportunities that lies ahead."
Asked what would attract the Chinese to invest in Sri Lanka, Mr. Wickremesinghe said there were many benefits like investment-friendly policies, the entire repatriation of a company's profits and the ability to own land - which they can't have even in China.
The Chinese can only lease not own land all of which is held by the state. Both acting Commerce Minister Yu Guangzhou and CCPIT chairman Wan Jifei spoke on the giant strides made by China to boost its economy while saying that the country had sufficiently recovered from the SARS epidemic.
BOI Director General Arjunna Mahendran explained in detail the economy and investment areas. He said he was hoping to get assistance to open more economic processing zones in Sri Lanka. Ceylon Chamber of Commerce chairman Tilak de Zoysa said they were looking forward to establishing contacts with the Chinese business community.
Tourism Board chairman Paddy Withana spoke of the beauty of Sri Lanka and its attractions and urged Chinese to visit the country while Ms. N.S.M. Samaratunga, Vice President of the National Chamber of Commerce made a presentation on INTRAD, an international exhibition cum conference due to be held later this year in Colombo.
The 50-strong business delegation was one of the largest business groups on an overseas visit and underlined Sri Lanka's new thrust to combine official visits by the Premier with business meetings and investment promotion conferences.
The delegation led by De Zoysa included business leaders like Deva Rodrigo (Ceylon Chamber), John Keells Holdings chairman Vivendra Lintotawela, Federation of Chambers of Commerce and Industry chief Nihal Abeysekera, Stassens' Harry Jayawardene and Carsons group's Harry Selvanathan. Other members of the delegation were Daya Gamage (Daya Group), Edmond Jayasinghe (Daya Group), Roshan Motha (General Engineers and Suppliers), Gratien Gunawardene (Hands International), Ajaykumar Dayalal (MAS Holdings), Kapila Wijegunawardene (Maharajas), Susantha Ratnayake (John Keells), Shiromal Cooray (Jetwing), A.L. Wickremaratne (Microcells Ltd), C.L. de Alwis (Chemanex Ltd), K. Chandran (Jayes Trading), Milton Perera (Kusumsiri Motors), Wang Ji Peng and Ms. Han Fei Being (CL International Consultancy based in Colombo), Dr. C.N.A. Nonis and Ms. N.S.M. Samaratunga (Mackwoods), Jagath Nawaratne (V. Com Engineering), M.S.M. Zurfick (Falcon International), Thusitha Paranagama (Finco/Ian Burke Ltd based in Hong Kong), Ajit Waththuhewa (Central Pre Cured Retreads), Sarath Pathmalal (Sarath Leather Products), Ms. Sicille Kotelawala, Bandula Ranaweera and Rohan Wickremaratne (Ceylinco Group), Selva Perumal (McLarens), Afgar Mohideen (United Holidays), Sunil Perera (Jetwing), Dirk Grigson and D. Ranatunga (Hem Tours), Gehan Perera (Aitken Spence), Tilak Weerasinghe (Lanka Sportsreizen), Chandra Wickremasinghe (Connaissance), Suren Ediriweera and Lal Wijekulasuriya (Ceylon Tours), Vasantha Leelananda (Walkers Tours), Wansa Hettiarachchi (Crystal Holidays), Ramesh Dissanayake (Sunway Holidays), Chandralal de Silva (Bettans), M.F. Rahuman and S.D. Niyas (Al Fahed Lanka Ltd).
Ken Balendra, retired John Keells chairman, was part of the PM's delegation as an advisor and head of a state agency seeking to improve foreign aid utilization.
Ceylinco International Trading's Wickremaratne said they had discussed coal and biogas projects with the China National Equipment Export/Import Corporation. Plans are underway to start a 50 MW coal power plant and a 6 MW biogas plant. Discussions were also on to install transmission lines in parts of Sri Lanka that would carry the non-national grid power generation.
Ceylinco officials said there were also plans to raise Ceylinco diamond sales - now being sold in a prestigious Beijing store - to about $1 million a year from a current $ 50,000.
Ranaweera from the housing and real estate sector of the Ceylinco group said they were discussing affordable housing projects. "There is a shortage of 300,000 houses in Colombo and the metros," he said adding that Ceylinco is currently involved in 4,000 already built or under construction housing units. The group's next housing project is in Piliyandala. Ceylinco was also interested in collaborating with Chinese partners to start a monorail system in Colombo.
The monorail scheme also figured in discussions by Hands International's Gunawardene. Bettan’s de Silva, whose shoe store chain in and outside Colombo is making waves in the industry, said he had a partner for a manufacturing plant at an industrial park in Hambantota.
Copyright © 2001 Wijeya Newspapers Ltd. All rights reserved.
Webmaster Editorial