China urges Sri Lanka to protect interests of investors
Posted on March 17th, 2015
Xinhua
China on Tuesday urged Sri Lanka to protect the interests of Chinese investors and promote bilateral economic ties following the suspension of a China-funded port project in Colombo.
We hope the Sri Lankan government will resolve the issue and protect the legitimate interests of Chinese investors according to law for the healthy development of economic and trade ties,” said Ministry of Commerce spokesperson Shen Danyang.
He said at the monthly press conference that China attached great importance to economic and trade cooperation with Sri Lanka. China supports its enterprises investing in Sri Lanka on the basis of mutual respect and benefits.
The Sri Lankan government announced earlier the month that it had suspended the 1.5 billion U.S. dollar Chinese project in Colombo for reevaluating of the deal. Stakeholders were reportedly concerned over environmental standards and a lack of transparency.
Construction of the port, handled by the China Communications Construction Co., was started during former president Mahinda Rajapaksa’s tenure. It would have created 83,000 jobs to local people.
After Sri Lanka’s new President Maithripala Sirisena took office in January, the new government decided to re-examine the port project and reconsider the outright transfer of a parcel of land to China under the deal. (Xinhua) —
March 17th, 2015 at 5:07 am
If there is an outright transfer of land to China or a Chinese company, then that should be converted to a lease. However, without further delay this project must be allowed to go on to its planned completion for the sake of Sri Lanka’s goal to attract more foreign direct investments and build up a reputation to be a secure nation for business investments, irrespective of political changes and who rules the country.
March 17th, 2015 at 8:30 am
Chinese should send some of their military personnel to safeguard their interests in
Sri Lanka. This will keep crafty, two faced indian snakes out of country’s affairs away forever!
Chinese are trustworthy people! Chinese will never break up our country while these indian snakes
are hell bent on doing that to please tn voters.
March 17th, 2015 at 11:39 am
I agree with Soori that all land, artificially created or otherwise, should be on LEASE ONLY to foreign countries or foreigners.
Every day that passes by on the Port City project, GoSL loses over $388,000 per day. Accounting by the new illegal govt is no good !
March 17th, 2015 at 12:59 pm
Sri Lanka now is more closer to India for massive investments. India is NOT known for her transparency and accountability even within India. INDIA IS WELL KNOWN AS ONE OF THE MOST CORRUPT NATIONS IN THE WORLD.
So lets cut the nonsense about this transparency and put it into context of working with either India or China.. I am not saying ignore the issue of accountability but lets not use it as some holy grail of Sri Lankan economic policies for seldom they are in any part of the world and least of all WITH INDIA.
The biggest issue now that I can see and please correct me if I am wrong is that
CAN INDIA MATCH CHINA OR SURPASS HER IN INVESTMENTS IN SRI LANKA? HOW ABOUT TECHNOLOGY TRANSFERS? HOW ABOUT KEEPING RELATIONS WITH SRI LANKA THAT EXCLUDE MINORITY ISSUES?
THE LAST ISSUE IS VERY IMPORTANT SINCE CHINA DOES….NOT….HAVE…A …TAMIL… ISSUE.
INDIA DOES HAVE A TAMIL ISSUE. IF SO ANY DEAL WITH INDIA WILL ALSO INVOLVE COLOMBO HAVING TO DEAL WITH THE TAMIL IN SRI LANKA, IN TAMIL NADU AND ACROSS THE WORLD
THAT WAS ONE JEWEL THAT CHINA AND SRI LANKA SHARED: THE ABSENCE OF BEIJING LINKING ANY OF HER DEALS WITH THE DOMESTIC TAMIL ISSUE.
March 17th, 2015 at 1:37 pm
I agree with Fran, we need time limits on agreements, as UK had over Hong Kong in the years following the sad state of China after Opium wars, and Taiping rebellion. our own history show that was the uncertainty of obtaining Tea from China following Opium wars that led the Imperial power to use Sri Lanka to develop TEa plantations. Unlike India China honoured that agreement and used that window to earn foreign exchange and also learn many skills. Our first independent government was ready to face the ire of USA to move with Rubber Rice trade agreements with China framed by DS Senanayake cabine, with R G Senanayake as the trade minister.
Can we expect Sirisena, Ranil and Ravi to have an even remotely comparable the strength of character.
They shiver at even mentioning the plight of our fishermen facing the poachers from the neighbour.