Sri Lanka is seeking further investment from China and has taken substantial actions to protect investor’s rights, said Mahinda Yapa Abeywardena, the country’s Speaker of Parliament.
The top official, who just attended the eighth China-South Asia Expo in Kunming, southwest China’s Yunnan Province, highlighted that the expo brings together enterprises from China and South Asia for trade opportunities while speaking in an exclusive interview with China Global Television Network.
“Last time we had only 80-odd participants. This time we had 126, or something like that, so the number of participants has increased considerably. The number one is gem and jewelry. Gem and jewelry is very popular and successful business in our country. Now they want to capture the Chinese market. The Chinese market is very attractive. The other thing was the garment industry. The garment industry is also is one of the lucrative businesses in the country. With this exhibition, I invite Chinese investors to come and invest in Sri Lanka in these fields, especially the tea, gem and jewelry, and garments,” he said.
Mahinda Yapa Abeywardena shared that the two countries will further cooperate under the Belt and Road Initiative, especially to advance flagship projects including the Colombo Port City and the Hambantota Port.
“Belt and Road Initiative is not a new thing for Sri Lanka. Thousands of years ago, there had been Chinese businessmen who did a lot of business in my country. Now, with this new approach, with the Belt and Road [Initiative], there is an ample opportunity, and it can expand unprecedentedly in our country. The port city is totally a Chinese investment, and Sri Lanka has recognized it. And in parliament, we have passed the legislation to give security for the investors. It’s a special law that is investor beneficial, investor friendly, and their investments are untouched,” he said.
The official also highly praised the medical aid offered by China for local cataract patients and expressed expectations that there will more exchanges in tourism.
“Those cataract operations were very successful and there was a big demand. And more than that, now China has given us a friendship hospital in Polonnaruwa. It’s for kidney patients. It’s an amazing investment, amazing donation to our country and which we appreciate very much. Tourism is also another industry that we develop in our country. There are very attractive sceneries, very attractive tourist offerings. If you can get 10 percent of your tourist influx to the country, that is more than enough for us to survive our industry. Chinese tourists are very well recognized and accepted by the Sri Lankan government and by the Sri Lankan people,” he said.
A top Chinese diplomat in Sri Lanka has said that some countries consider Sri Lanka’s barring of scientific research vessels including those from China, as a diplomatic victory.
Speaking during an interactive session with a group of journalists at the Colombo Port City yesterday (Sep. 12), Deputy Chief of the Chinese embassy in Colombo, Yanwei Zhu said that widespread public concern was raised on Chinese social media over the matter, wondering as to why Sri Lanka, as a friendly nation, had taken such a measure.
Mr. Yanwei said that China fully respects the decision of Sri Lanka as an independent and sovereign nation.
However, he said that there is an issue whether the decision was actually made by the Sri Lanka government independently or otherwise.
“Another issue is whether this decision is made by Sri Lanka government independently or because of outside pressure. To be honest, we heard a lot of rumours… When Sri Lanka government made such a decision, China kept silent… Because we respect our friend… We understand the difficult situation our friend has been facing since last two years. Because some countries took advantage of the difficulty of Sri Lanka and gave a lot of pressure to our Sri Lankan friends,” he said.
We do not want to put our friends in an awkward situation. Therefore we kept silent, he said.
However ‘some friends’ considered the decision to bar scientific research vessels as a ‘diplomatic victory’, Mr. Yanwei said.
History and future will prove to our Sri Lankan friends that China is the real good friend and partner and we are ready to walk together with Sri Lanka, he added.
He also pointed out that the research onboard such vessels are not done alone by China but done in collaboration with Sri Lanka, which lacks the capacity to conduct such research on its own.
He questioned which other country with the capacity and willingness has stepped into conduct joint research in this manner with Sri Lanka.
Without the permission of Sri Lanka, the information of this research cannot be shared with anyone, he emphasized.
Addressing the event, Chinese ambassador in Sri Lanka – Mr. Qi Zhenhong reiterated that the friendship between China can be traced back to 2,000 years.
Speaking on the upcoming election in Sri Lanka, the ambassador further said that if the new government is prepared to strengthen ties with China, they are always willing to remain open to promote friendship and cooperation.
Sri Lanka’s Cabinet of Ministers has decided to lift all vehicle import restrictions by February 2025, according to Foreign Minister Ali Sabry.
“With the significant improvement in forex reserves and the strength of the rupee, the Cabinet of Ministers has decided to lift all vehicle import ban/restrictions by February 2025. This decision is part of our ongoing efforts to restore normalcy in the economy and meet the needs of our people,” he has said on a X post (formerly Twitter).