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Last Updated : 2024-04-20 00:00:00
Numerous investment proposals initiated by the Sri Lankan embassy in Beijing with leading Chinese companies have not taken off the ground due to what a top source called ‘lack of any serious enthusiasm at the Colombo end and the absence of committed, knowledgeable and goal -oriented bureaucrats for a long period to undertake follow up action.
The source , on condition of anonymity, said it is suspected whether some bureaucrats delayed action expecting commissions.
According to the source , the embassy had detailed discussions with a range of leading companies which had expressed interest in economic engagement in Sri Lanka .
Among them were, China Harbour which committed itself to investing US $500 million in the financial centre in the Colombo Port City.
Hunan Infrastructure had expressed interest in investing $200 million. China Rail and its collaborators have been in talks to build the LRT (Light Rail Transit ) in Colombo and residential apartment blocks as a multi billion dollar project.
“Fiber Home had been in talks about a smart class rooms and a high tech university project. and have resumed contact recently. China Great Wall in conjunction with the Wuhan University had also expressed interest in constructing a world class high tech university. Sinopharm was in discussion about building a plant to cater to the regional market and has now moved to the United Arab Emirates ( UAE).
“Many companies have expressed interest in renewable energy and transmission line development. Interest has been expressed in aviation collaboration, electric vehicle assembly and manufacture, tourist resorts, steel manufacture in Hambantota, extraction and refinement of mineral sands, etc. A project to send fee paying Chinese students to Sri Lanka has been initiated,” the source said .
The source said some discussions which were progressing were stalled due to the travel restrictions accompanying the pandemic and political instability of 2022 was a serious dampener.
“Now some discussions have been resumed tentatively. Sri Lanka will need to follow up seriously ,” the source said.
Asked for a comment in this regard , an official of the Board of Investment (BoI) said 19 Chinese projects are now in different stages of project life cycle. (Kelum Bandara)
Sambo Monday, 22 May 2023 11:09 AM
What a mess this country has become and a laughing stock to the world
Citizen Silva Monday, 22 May 2023 11:20 AM
The biggest den of bribe takers are the BOI
Shariq Monday, 22 May 2023 11:35 AM
This has always been the case when getting anything done in the government sector. Full of corrupt government servants.
Mithun Monday, 22 May 2023 12:31 PM
I am not for State Officials but Chinese bribe the officials than any other Country.
dilip Monday, 22 May 2023 12:37 PM
if all businesses going to foreigners what remain for local entrepreneurs
Hello Hello Monday, 22 May 2023 12:40 PM
Taking bribe by Sri Lankans is nothing new. It's a culture from head to foot. This country will never ever improve.
Pamela Solomons Monday, 22 May 2023 02:15 PM
When will politicians realize WHY this many Chinese Investors are so keen to invest in Sri Lanka, guess the majority are sitting on their GOD given brains. Waitttt! till the ALMIGHTY says enough is enough and comes like a thief in the NIGHT.
Hard Truth Monday, 22 May 2023 02:56 PM
Why just blame politician or goverment officials. Given a chance any normal Sri Lankan will give and get corrupt to get things done. Corruption is very fabric of modern Sri Lankan society. We elect and represent correputed politicians and governemt officials from this very society. From Airport toilet cleaner level free loafers, for everything and anything free.. free.. free..
Wiraj Monday, 22 May 2023 04:24 PM
President himself disregarded bribery complaint from Japanese Ambassador and reinstated a corrupt minister into the cabinet. What else can we expect under this regime?
Sugee Monday, 22 May 2023 05:06 PM
We have long list of corruption Mahinda and Co Reshard for maggie noodles Gota for X-Perl, Avangard Ranil for Bond Sadly none of them can be proved ...
Spartacus Monday, 22 May 2023 07:36 PM
Do not generalise by saying "inefficient government officials", point out these are all Sinhalese who since independence have screwed this nation.
dickie bird Monday, 22 May 2023 09:50 PM
"different stages of project life cycle" What nonsense. BOI should be a One Stop Shop. there should be no different stages. it is evident the BOI is dragging their feet with a hidden agenda. Get on and get over with
Sivalingam Tuesday, 23 May 2023 06:08 AM
Otherwise how will these officials fund their childrens education overseas.
Welcome to the club Tuesday, 23 May 2023 09:14 AM
Before rushing to welcome Chinese, consider the dilemma of some African nations once blessed with natural resources, but have become empty now with the kind help of China! Most of their leaders have become dirt rich while their citizens are in poverty! Do we need that to happen to us?
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