China to invest USD 1.2 Bn in Colombo port city: Minister Sabri

Foreign Affairs Minister Ali Sabri said the chairman of China Harbor Engineering Corporation expressed his willingness to invest US $ 1.2 billion in the Port City of Colombo.

Addressing a press conference themed “One Way to a Stable Country” at Presidential Media Center (PMC) yesterday, Minister stated that during his recent visit to China, he met with the Chinese Ministers of Finance and Foreign Affairs, as well as the Chairman of the Exim Bank of China, who expressed their admiration for the efforts taken to promote economic stability and progress in this country.

He also stressed that investors from across the world are ready to invest in Sri Lanka if essential reforms are implemented to establish a favourable environment for investors.

The minister also stated that, while some people are waiting for the country’s banking system to collapse, the government’s economic development agenda has received international acclaim.