Chinese industrialists seek partnership for major fisheries investment in Sri Lanka
Daily FT: A Chinese delegation led by Fujian Province Aquatic Products Wholesale Industry Association Chairman Yushu Huang called on Prime Minister Dinesh Gunawardena at the Parliament complex, to explore potential investments in Sri Lanka›s burgeoning fisheries sector.
He expressed keen interest in establishing a state-of-the-art fish processing facility close to coastal harbors dedicated to the processing and export of high-quality fish products.
Huang emphasized their association›s status as the leading exporter of fish production in China during the meeting on Wednesday (6). Secretary Huang Jincheng provided further insights into the ambitious project, assuring the utilization of cutting-edge technology, including the deployment of modern multi-day fishing vessels for sustainable fishing practices, state-of-the-art methods for fish processing, and adherence to the highest industry standards.
Prime Minister Gunawardena commended the potential for substantial investments in fish processing and exports.
He underscored that this opportunity transcends borders, extending not only to China, but also to key foreign markets in Europe and North America. The collaboration holds promise for mutually beneficial economic growth.
The Prime Minister urged the Fujian Province Aquatic Products Wholesale Industry Association to lend their expertise to the Government›s ongoing initiative aimed at developing small fishing harbors across Sri Lanka. The Chinese delegation readily agreed to this request, with a commitment to foster sustainable growth in the sector.
In response, Minister of State for Fisheries Piyal Nishantha expressed willingness to provide the necessary facilities and support for the establishment of the proposed fish processing factory.
He was optimistic of the positive impact this venture could have on the local economy and broader industry.
OSL take:
Sri Lanka and China enjoy strong bilateral, business and trade ties. China is also a key development partner of Sri Lanka with many investments in major development projects covering all key economic sectors in the country. With Sri Lanka’s economy back on the growth path and restarting development programmers covering all economic sectors, there’s an overall growth in business/investment opportunities in the country covering all key economic sectors. China has also placed Sri Lanka in a place of prominence in its Belt and Road Initiative (BRI) given Sri Lanka’s geographical positioning in the Indian Ocean. Many Chinese businesses have already entered Sri Lanka and is looking at further expansion. Given the success stories of Chinese businesses in Sri Lanka and the growth and business potential in Sri Lanka, Chinese businesses/investors could confidently explore the growing opportunities in the country. Chinese businesses could look at setting up base in Sri Lanka to engage with other countries in the region using Sri Lanka’s strong trade ties. They could also explore forming partnerships or joint ventures with local businesses with the aim of further expansion.
| Article Code : | VBS/AT/20230920/Z_2 |