Guangzhou Govt representatives positive about investing

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By 2017-10-19

The Board of Investment of Sri Lanka hosted a delegation from the Guangzhou municipal Government headed by Vice Counsel Tu Hongze, stated a press release.

The 6-member delegation is on a fact-finding visit to the Island to evaluate the possibility of enterprises from Guangzhou – formally known as Canton – investing and trading with Sri Lanka, added the release.

The delegation was briefed on investment opportunities by a team of the BOI, consisting of Director (Promotion) Nilupul De Silva, Director (Media & Publicity) Dilip S Samarasinghe, and Senior Deputy Director (Promotion – China Desk Officer) Vipula Jayasinghe. The visit was coordinated by Shanika Dissanayake Sri Lanka's Consul General in Guangzhou.

Tu spoke of the importance of Guangzhou in China. The city is third-largest in China after Beijing and Shanghai, with a large land area and gross domestic product of US$ 300 billion. Tu stated that if Guangzhou were to have been a separate state, it would have the 14th largest economy in the world, underscoring its vital contribution to China's economic growth.

Furthermore, Guangzhou is an integral component to China's economic integration of the Asia, Middle East, Africa and Europe regions, known as the One Belt One Road programme. Hence, companies from Guangzhou have engaged in investing over US$ 1,700 million in approximately 60 countries, mostly in the area of tourism. The leader of the delegation stated that he was keen to see more Sri Lankan visitors to China while expecting the growth of Chinese tourists arrivals to Sri Lanka continue.

Tu stated, "We are looking at opportunities. We have learnt a lot from the BOI presentation and are keen to espouse that Sri Lanka is an ideal tourism destination that combines beaches, nature and historical sites." He added, "We from the Government of Guangzhou think Sri Lanka is a beautiful country worth visiting."

"Whilst this is first our visit to Sri Lanka, it has provided an opportunity to study the country's business climate, we also appreciate that there are very close ties between the Governments and peoples of Sri Lanka and China."

Tu added, "The Chinese Government is keen to do the large projects in Sri Lanka and is looking at investment opportunities, notably in the tourism sector. Currently, there are 1.4 million tourists travelling annually from Guangzhou, and I am confident that in the future there would be more who will opt for Sri Lanka as a holiday destination. I also believe that this is the ideal time to invest in Sri Lanka. With the Free Trade Agreements that Sri Lanka has made with India, Pakistan – and in future, with China – in addition to the return of the EU GSP+ facility and enhanced market access, Sri Lanka will become a hotspot for future investments," the release concluded.

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