Connect with us

News

Hambantota International Port Group promotes Lanka as haven for investors

Published

on

Zhanjiang - Investment Promotion Event

A comprehensive promotional plan has been put in place by the Hambantota International Port Group (HIPG) to position the Port and its industrial zone as a haven of opportunity for setting up light industries. Many potential investors have been reached and discussions are ongoing for direct investment into the zone.

HIPG’s expert Port Investment team has been stationed in China for about a year, to inform and educate potential investors about new opportunities in Sri Lanka.  “We have approached more than 100 enterprises and public institutions which include investors, government sector and industry associations in Beijing, Tianjin and Hebei, East China, the Yangtze River Delta and the Pearl River Delta region, etc.

“Our industry research and investment promotion activities have shown us that although potential investors know Sri Lanka as a tourist destination, they know little about the Hambantota Port and the opportunities, the country can open up from a more industrial and business related perspective.  They are unaware of the investment environment in Sri Lanka and HIP for overseas investment, a situation we intend to remedy,” says Justin Zhang, General Manager of Port Investment Services, HIPG.

What is of primary concern to these investors is the supply chain, both upstream and downstream.  “They are familiar with market conditions where there are a multitude of raw material suppliers for different industries that can make market conditions competitive, which goes towards mitigation on the volatility of the supply of materials for production.  This is something HIP is working on parallel to bringing these investments into the country, which is in our Master Plan,” says Tim Xiao, Senior General Manager, Port Investment Services and General Affairs.

Currently the HIPG Port Investment Services team is on the ground promoting the zone to diverse industries that will fit into the port’s Master Plan in upstream and downstream connectivity in port-related industries. The preferred industries are rubber and tyre, electric vehicles, electronic equipment, home electrical appliances, new materials for building, nano materials, etc. The investors are being made aware of what Sri Lanka has to offer in terms of tax incentives, low costs of labour, utilities, etc., as well as benefits arising from the country’s Free Trade Agreements. The strategic location of the Hambantota Port is another advantage for investors in terms of proximity to their markets coupled with the multifunctional logistics, port facilities and the added benefits from an industrial park adjacent to the port.

“Our endeavour in bringing FDIs into Sri Lanka, is to connect Sri Lankan and foreign partners in various industry sectors so that the country will realise its full potential. When approaching investors, we usually introduce the “HIP Speed” concept which includes our professional and efficient project team in Sri Lanka and China and the One-Stop Service facility. We also showcase projects such as our ‘Park in Park’ manufacturing operation, the Ceylon Tyre Manufacturing Project and SeaHorse Yacht building as examples of how “HIP Speed” operates,” says Johnson Liu, CEO, HIPG.

HIPG says the future holds great opportunity for the South of the country, both in terms of skilled and semi-skilled employment and for Sri Lankan investors to set up factories to strengthen the supply chains that will create win-win solutions for everyone. “One of our main objectives is to make HIP a Gateway Port for the Southern hinterland.  This requires more industries to be integrated into a smoother supply chain that could be developed, to cater to a massive export market for Sri Lanka,” says the CEO of HIPG.



Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

Keheliya turns down request for abolishing price control on medicine

Published

on

Industry leader has sought court intervention

By Shamindra Ferdinando

Health Minister Keheliya Rambukwella yesterday (17) said that in spite of difficulties caused by the foreign currency crisis price control on imported medicines couldn’t be done away with.

Abolition of price control on drugs would heap an enormous burden on the vast majority of people, Minister Rambukwella said.

Lawmaker Rambukwella said so when The Island sought his response to the Sri Lanka Chamber of the Pharmaceutical Industry (SLCPI) requesting the government to do away with price control. Claiming that the grouping imported over 80 percent of medicines into the country, the SLCPI recently warned of possible collapse of the industry unless remedial measures were taken swiftly.

Minister Rambukwella said that recently he met an SLCPI delegation at their request to discuss issues at hand. “Of course, I understand the difficulties experienced by all sectors, including the pharmaceutical trade. However, price control as regards medicine cannot be done away with,” Minister Rambukwella said.

The SLCPI has pointed out to the Minister that at the moment medicines were the only commodity under price control in the local market. The Health Minister asserted that it wouldn’t be fair to compare the medicine with other commodities.

Minister Rambukwella said that regardless of constrains, the government was trying to ensure uninterrupted supply of medicine and it wouldn’t be fair to do at this juncture.

In a statement sent to the media SLCPI asserted: “There is no solution to this dilemma than removing the price control of medicines and implement a fair and equitable pricing mechanism which will link the price of medicines to the dollar, inflation and direct costs such as raw material, fuel and freight charges, which will then make importing and marketing of medicines viable. As difficult as it may sound, the authorities will have to choose between having medicines at a cost and not having medicines at all.”

The SLCPI has already sought the intervention of the courts to establish what the grouping called a transparent pricing mechanism outside government price control.

Recently, Minister Rambukwella, at a meeting also attended by State Minister Dr. Channa Jayasumana called for a report on the requirement of medicines over the next six months. The Health Ministry declared that there was no shortage of drugs whereas SLCPI claimed some drugs were in short supply and the situation could get worse.

Continue Reading

News

Central Expressway: Rs 3 mn raked in within 12 hours

Published

on

Chief Government Whip and Highways Minister Johnston Fernando said yesterday that about three million rupees had been earned by way of toll within the first 12 hours of the opening of the second phase of the Central Expressway.

Rs 2,805,100.00 had been paid by the expressway users during the first 12 hours from 12 noon to midnight Sunday (16) after its opening by the President and the Prime Minister on Saturday (15).

The Minister said that during the first 12 hours of the period of toll collection, a total of 13,583 vehicles had traversed the most  scenic road stretch in the country between Mirigama and Kurunegala. No traffic accidents had been reported during the 12 hour period.

Minister Fernando said that the newly opened road had been allowed to be used by the public free of charge for 12 hours from midnight Saturday (15) to Sunday (16) noon.

Continue Reading

News

President to inaugurate second session of Ninth Parliament today

Published

on

by Saman Indrajith

President Gotabaya Rajapaksa is scheduled to commence the second session of the Ninth Parliament today at 10 am with his third Presidential policy statement (formerly Throne Speech).

He made his first ‘Throne Speech’ on Jan 3, 2020, opening the Fourth Session of the Eighth Parliament and the second on Aug 20, 2020 to open the First Session of the Ninth Parliament.

Secretary General of Parliament, Dhammika Dasanayake said that MPs have been requested to arrive at the parliamentary complex at 9.25 am the latest.

The MPs, if accompanied by their spouses will alight from their vehicles at the Staff Entrance of the parliamentary building, while all other MPs are requested to drive up to the Members’ Entrance.

To facilitate orderly arrival, the MPs are requested that the Car Label provided them with be pasted on the inside top left-hand corner of the windscreen of their vehicles. On arrival at Parliament, Members’ vehicles would be directed by the Police to the appropriate Car Park.

Thereafter the MPs are requested to enter the lobbies of Parliament and to remain there until the Quorum Bells are rung.

President Rajapaksa is scheduled to arrive at the Main Steps of the Parliament Building at 9.40 a.m. and he would be received by Speaker Mahinda Yapa Abeywardena and the Secretary-General of Parliament.

The President will be escorted by them to the Parliament Building. Thereafter, the Speaker and the Secretary-General of Parliament will escort the President to his Chambers.

At 9.55 a.m. the Quorum Bells will be rung for five minutes and all Members will take their seats in the Chamber of Parliament.

The President’s procession will leave for the Chamber of Parliament and will enter the Chamber at 10.00 am. On entering the Chamber the President’s arrival will be announced whereupon all Members will stand in their places until the President reaches the Chair and requests the Members to be seated.

Thereafter, the Proclamation proroguing the Parliament and Summoning the Meeting of Parliament will be read by the Secretary General of Parliament. Then, the President will address Parliament.

After his policy statement the President will adjourn the House until 1.00 p.m. on Wednesday (19).

Thereafter, the President will leave the Chamber escorted by the Speaker and the Secretary-General of Parliament.

Continue Reading

Trending