The government of Sri Lanka has reportedly approved the construction of an oil refinery with a capacity of 10 million tonnes a year by a Singapore-Oman joint venture in the country’s southern city of Hambantota in close proximity to a deep-water port operated by a Chinese firm.
Sri Lanka’s Finance Minister Mangala Samaraweera has reportedly government will implement delayed plans to liberalise the shipping sector, allowing full foreign ownership of shipping agency and freight forwarding businesses, before presidential polls due later this year.
The Government Information Department of Sri Lanka has reportedly stated that Swiss Singapore Overseas Enterprises Pte. Ltd., a commodity trader, has won a contract to supply Murban crude oil to the country’s state-run Ceylon Petroleum Corporation (CPC).
Sri Lanka’s Development Strategies and International Trade Minister Malik Samarawickrama has reportedly stated that all trade agreements Sri Lanka is working on were making headway despite unfair criticism.
The Hotels Association of Sri Lanka (THASL) has reportedly welcomed most of the proposals included in the Sri Lankan government’s Budget 2019