Global investors already in SL shipping industry: JO

29 November 2017 01:20 am - 8 - {{hitsCtrl.values.hits}}

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The budget proposal to open up the shipping industry with the objective of attracting major players to invest in Sri Lanka would not serve any purpose as global players are already engaged in business in the country, joint opposition MP Rohitha Abeygunawardene said yesterday.

“Global players in the shipping industry are already in Sri Lanka and the proposal to remove the laws which restrict the stake a foreign player could hold in a shipping agency in Sri Lanka to 40% will not serve any purpose. Name a foreign shipping company that has not come to Sri Lanka," he said speaking during the committee stage debate in Parliament yesterday.

The MP said the former government also brought a similar proposal to open up the shipping industry but decided to give it up after discussions with local shipping agencies.

“A shipping agency in Sri Lanka can be opened with an investment of Rs.5 million. Is the government trying to open the industry to attract investments worth only that much? It should instead impose a benchmark for investment," he said and added that prior to introducing this proposal, the Finance Ministry should have discussed this matter with the Ministry of Ports and Shipping. (Yohan Perera and Ajith Siriwardana)

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Comments - 8

Voter Wednesday, 29 November 2017 07:42 AM

They came to see the Hambantota port but, did not do anything!!!

duckman Wednesday, 29 November 2017 09:53 AM

isn't this guy a tele-drama actor

Nihal Gamage Wednesday, 29 November 2017 10:18 AM

What a brain to talk about global investors...lol

nick Wednesday, 29 November 2017 10:20 AM

so this the manadela kathal begin... via DM Android App

Lord Wolfstein Wednesday, 29 November 2017 11:14 AM

If international shipping companies are allowed to hold only 40% of a company, that means they can do 80% of the work but only get 40% profit. Such a constellation hinders free competition and has a negative impact on the economy.

daily boru Wednesday, 29 November 2017 11:18 AM

Depends on how big your world is, Mr MP.

Citizen Wednesday, 29 November 2017 12:01 PM

This Guy Does not have any educational Knowledge at all.

Dee Wednesday, 29 November 2017 01:13 PM

We are not talking about fishing or picking pockets here!

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Global investors already in SL shipping industry: JO

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