Sri Lanka’s Chinese funded Port City to attract Indian investors and others from the region
Chief Sales and Marketing Officer, CHEC Port City Colombo (Pvt) Ltd., Liang Thow Ming has reportedly said that the Chinese funded Port City reclamation project aims to attract investors from the region, especially Indians and expatriates based in India.
“The project is targeted towards the region,” said Liang Thow Ming, Chief Sales and Marketing Officer, CHEC Port City Colombo (Pvt) Ltd., which is a unit of China Habour Engineering Company Ltd. (CHEC).
Thow Ming has said that the residential, commercial and retail space created by the Port City project will be several orders of magnitude more than existing facilities, in Sri Lanka and abroad, which was what investors were looking for.
“The next part is to attract investments into the Port City – foreign direct investment and domestic investments – which depends on the country’s economic policy,” Thow Ming has been quoted as saying in the local media.
“We are infrastructure developers – that’s what we can produce. If you consider what we can produce is a glass, then how fill the glass with water depends on the country policies.”
According to him, the Colombo Port City financial centre is well located to serve the Indian market.
There are currently no similar facilities in South Asia while Singapore served South East Asia and Dubai west Asia.
“Indians are parking money in Dubai while 35 percent of money parked in Mauritius comes from India,” Thow Ming has noted.
“Why can’t we have a share of that market? I have been here for four years and I’ve spoken to people, including expatriate staff in India. They said they will relocate to Colombo if they have the opportunity,” Thow Ming has added.
OSL take:
The statement by the head of marketing of the Colombo Port City that the project aims to attract investors from the region, especially Indians and expatriates in India indicates the opening up of many opportunities in Sri Lanka. Once completed, the Colombo Port City will be one of the most developed financial centers in the region. Hence, an investment in the Port City would see instant results given that Sri Lanka is nearing its goal of becoming a hub in the India Ocean. Indian businesses/investors and the expatriate business community in India could now start exploring business opportunities in Sri Lanka’s Port City.
| Article Code : | VBS/AT/18092018/Z_1 |