Sri Lanka’s Chamber of Construction Industry signs MoU with China International Construction Association to secure construction projects
The Chamber of Construction Industry of Sri Lanka has reportedly said it has signed a memorandum of understanding (MoU) with China International Construction Association in a bid to win business in areas that have so far been dominated by government-to-government deals.
The MoU had been signed on the sidelines of the International Infrastructure Investment and Construction Forum held in Macau in June, reports state.
“China International Construction Association is recognized as the official representative of the industry there,” the Chamber of Construction Industry of Sri Lanka has said in a statement.
“The Chamber even had representatives in China’s negotiating team for the FTA with Sri Lanka.”
According to the Chamber of Construction Industry of Sri Lanka, the agreement will recognize member firms from both chambers which will establish links to help businesses establish partnerships, facilitate investments and construction projects in the two countries.
The Chamber has further noted that it will help both Sri Lanka’s government and private sector discover and facilitate investment opportunities in both countries.
OSL take:
The signing of the MoU between Chamber of Construction Industry and the China International Construction Association would result in the expansion of the opportunities for Sri Lankan construction companies to secure projects in China and vice versa. This would result in Sri Lankan construction companies receiving the opportunity of getting hold of projects in China that goes beyond the government to government agreements. All this would result in a boom in Sri Lanka’s construction sector.
| Article Code : | VBS/AT/20180615/Z_1 |