Sri Lanka conducts extensive promotion in China for industrial park in Hambantota
Sri Lanka’s Hambantota International Port Group (HIPG) has put in place a comprehensive promotional plan to position the port and its industrial zone as a haven of opportunity for light industries.
According to local media reports, many potential investors have been reached and discussions are ongoing for direct investment into the zone.
HIPG’s Port Investment team has been stationed in China for about a year in a bid to create awareness among potential investors about new opportunities in Sri Lanka.
“We have approached more than 100 enterprises and public institutions which include investors, government sector and industry associations in Beijing, Tianjin and Hebei, East China, the Yangtze River Delta and the Pearl River Delta region, etc. Our industry research and investment promotion activities have shown us that although potential investors know Sri Lanka as a tourist destination, they know little about the Hambantota Port and the opportunities, the country can open up from a more industrial and business related perspective. They are unaware of the investment environment in Sri Lanka and HIP for overseas investment, a situation we intend to remedy,” HIPG General Manager of Port Investment Services Justin Zhang has been quoted as saying in the local media.
“They are familiar with market conditions where there are a multitude of raw material suppliers for different industries that can make market conditions competitive, which goes towards mitigation on the volatility of the supply of materials for production. This is something HIP is working on parallel to bringing these investments into the country, which is in our Master Plan,” Senior General Manager, Port Investment Services and General Affairs Tim Xiao has also been quoted as saying.
Currently the HIPG Port Investment Services team is on the ground promoting the zone to diverse industries that will fit into the port›s Master Plan in upstream and downstream connectivity in port related industries.
The investors are reportedly being made aware of what Sri Lanka has to offer in terms of tax incentives, low costs of labour, utilities, etc., as well as benefits arising from the country’s Free Trade Agreements and the strategic location of the Hambantota Port.
“Our endeavour in bringing FDIs into Sri Lanka, is to connect Sri Lankan and foreign partners in various industry sectors so that the country will realise its full potential. When approaching investors, we usually introduce the ‘HIP Speed’ concept which includes our professional and efficient project team in Sri Lanka and China and the one-stop service facility. We also showcase projects such as our ‘Park in Park’ manufacturing operation, the Ceylon Tyre Manufacturing Project and SeaHorse yacht building as examples of how ‘HIP Speed’ operates,” HIPG CEO Johnson Liu has stated.
The industrial park at the Hambantota Port is an attractive business/investment destination due to the quick access to an international port given Sri Lanka’s strategic geographical positioning in the Indian Ocean. The many trade agreements as well as concessions enjoyed by the country have also boosted Sri Lanka’s attraction as a business/investment destination. Foreign businesses could therefore explore the growing opportunities in Sri Lanka’s Hambantota Port industrial zone.
|Article Code :||VBS/AT/IM/20211028/Z_3|