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Sri Lanka’s Port City in Colombo attracts attention of Russian business tycoon

Sri Lanka’s Port City in Colombo attracts attention of Russian business tycoon

Prominent Russian business tycoon Andrey Melnichenko has recently visited the Port City Colombo.
He was accompanied by Sri Lankan-born British politician and former EU Parliamentarian Niranjan Deva Aditya.
Melnichenko is a self-made billionaire with major investments in Switzerland-based fertiliser giant EuroChem Group and Russia-based coal energy company SUEK, local media reports stated.

He was warmly welcomed by Port City Colombo Assistant Managing Directors Yue Yeqing and Thulci Aluwihare together with Sales and Marketing Director Yamuna Jayaratne.
The delegation was briefed on the Port City Colombo project, its construction progress and future developments by Country Manager – Sales and Investor Relations Radhika Ellepola, the Daily FT news report stated.
Melnichenko has reportedly expressed positive remarks about the project and that he was impressed with the strategic planning of the new city in the making.
Sri Lanka’s Board of Investment Chairman Sanjaya Mohottala, Director General Pasan Wanigasekara, and corporate sector veteran Rajan Brito were also present at the occasion.
From the beginning of this year, Port City Colombo continues to attract several world leading business personalities, keeping Sri Lanka on the map as a potential hub for future investment.
Port City Colombo now awaits the introduction of the Special Economic Zone (SEZ) law by the Government, which will further enhance foreign direct investments (FDIs) to Sri Lanka.

OSL take:

Sri Lanka’s development programme that has recommenced with great vigour has attracted the attention of many foreign business tycoons. Sri Lanka is fast becoming a business hub in the South Asian region given its geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country. The country’s economy has shown great resilience through the years and is already showing strong signs of returning to normalcy after facing the impact of the global Covid 19 pandemic. Foreign businesses/investors could therefore explore business/investment opportunities in Sri Lanka.

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Article Code : VBS/AT/20210323/Z_1

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