{"id":113701,"date":"2021-04-20T16:19:45","date_gmt":"2021-04-20T23:19:45","guid":{"rendered":"http:\/\/www.lankaweb.com\/news\/items\/?p=113701"},"modified":"2021-04-20T16:19:45","modified_gmt":"2021-04-20T23:19:45","slug":"benefits-of-colombo-port-city-should-go-to-the-development-of-rural-sri-lanka","status":"publish","type":"post","link":"https:\/\/www.lankaweb.com\/news\/items\/2021\/04\/20\/benefits-of-colombo-port-city-should-go-to-the-development-of-rural-sri-lanka\/","title":{"rendered":"BENEFITS OF COLOMBO PORT CITY SHOULD GO TO THE DEVELOPMENT OF RURAL SRI LANKA"},"content":{"rendered":"

BY EDWARD THEOPHILUS<\/strong><\/em><\/span><\/h2>\n\n\n

Before\nstart work in Colombo Port City, I published several articles explaining how it\npositively impacts the economy of Sri Lanka. The concept of port city\ndevelopment has been attracted in many countries and some are successful others\nare not successful as expected. Sri Lanka needs to invent new strategies for\nits development and growth and, the port city may be one that could be\nsuccessfully used with many limits. \nBefore beginning it was a dream when it graduating a reality many\nantagonisms emerged with different political opinions and unknown forces and\nmotives.  When looks at many criticisms\nof different personnel it shows that people have no good understanding of the\nconcept many are groping in dark. The highest risk associated with the concept\nof the port city is economic socks which may come from internally or externally\nin the future due to various reasons especially economic reasons.  The government of Sri Lanka must plan how to\nabsorb socks and otherwise, the entire country may relegate to obscurities or\nit may be a colony of bondholders. Many critics have not clearly explained this\nsituation people to understand.<\/p>\n\n\n\n

The\nColombo Port City development should be in the way how Hong Kong had been\ndeveloped under British rule. Investors might not interest in the negative\nattitudes of some people. The priority of investors in the port city will be\nreturns for the investment and the government needs developing policies for\nsatisfying investors. Some people may have an opinion that investors should\ndonate money, it would not happen.  If\nthe government attempts to satisfy opposition it would not be an economic\ndevelopment project and it should be a social service project. <\/p>\n\n\n\n

Hong\nKong project had many features and even money laundering activities may have\nbefallen as a result of development and it is difficult to implement a project\nwhich purely associates with saints\u2019 activities. The administration process\nneeds to develop sharp teeth control malpractices. The opposition critics have\nnot questioned the control process and its strength the preventing malpractice.\n However, the government has no purpose\nto devote the project money laundering purposes, and when the project\nmonitoring if it identifies money laundering activities the government can\ncover loopholes through amending legislation. This is the general practice in\nthe world.  <\/p>\n\n\n\n

The\nother vital aspect is the government should plan to retire the debt burden\nusing the benefits of the port city and a higher rate of revenue generated from\nthe city must use for investment in the rural economy.  People have no idea about has the government\nplanned for these purposes and as long as the government hides its plan the\nport city will be a talking point of opposition and other analysts. The concept\nof a port city should not give a negative message to people and it needs support\nfrom people. When it looks at the history of Hong Kong\u2019s development it cannot\nfind information that Chinese people had been considering the points that\nopposition is looking at now in Sri Lanka. The attitudes of Sri Lankans are\ncriticizing matters that are unknown to them rather than studying points. Criticisms\nare seeming to be assumptions, but not realities. The reality of the Colombo\nPort city project could be known after five years. People must understand that\nthere is a global competition to attract investment and those who give more\nencouragements to investors they would choose to invest.<\/p>\n\n\n\n

The\nmost significant aspect of the project is what is the projected revenue and how\nit planned to spend the revenue.  This\ninformation has not been presented to the public. According to my views, 25% of\nrevenue should be invested in rural infrastructure development, and 50% of\nrevenue must use to increase the volume of foreign reserves of Sri Lanka. If\n75% of revenue will be generated from the project uses for the two areas it\nwould support solving structural problems of the country.  The balance of 25% could be used to retire\ndebt. If this way uses the revenue from the project the Colombo Port City would\ngenerate positive outcomes for Sri Lanka.<\/p>\n\n\n\n

Compared\nto many projects in the world, the Colombo Port city project is tiny and it is\nopening the economy outside. Total employment opportunities would be generated\nmight be less than 25000 and it will not be a massive project that will be the\nsolution to all economic problems of the country. As it is reported that the\neconomic growth of China would be more than 15% in this year there is no doubt\nthe Chinese economy will be double within five years and Sri Lanka should\nattract more benefits from Chinese growth and it should work like Taiwan to\nstrengthen the economy.<\/p>\n\n\n\n

India\nand Western countries may not like this vision and they aren\u2019t like to possible\nchanges incur to Sri Lanka with the support of China and they may have\ndispleased toward Sri Lanka. However, the Colombo Port City Project will be\nbeneficial to India where can accommodate project supports and other services\nsuch as exports to Sri Lanka. Therefore, India must look at the port city\ndevelopment project as an indirect incentive for the country.    <\/p>\n","protected":false},"excerpt":{"rendered":"

BY EDWARD THEOPHILUS Before start work in Colombo Port City, I published several articles explaining how it positively impacts the economy of Sri Lanka. The concept of port city development has been attracted in many countries and some are successful others are not successful as expected. Sri Lanka needs to invent new strategies for its […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":true,"template":"","format":"standard","meta":{"footnotes":""},"categories":[124],"tags":[],"class_list":["post-113701","post","type-post","status-publish","format-standard","hentry","category-edward-theophilus"],"_links":{"self":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/113701","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/comments?post=113701"}],"version-history":[{"count":0,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/posts\/113701\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/media?parent=113701"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/categories?post=113701"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lankaweb.com\/news\/items\/wp-json\/wp\/v2\/tags?post=113701"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}