BoI hosts Beijing and Jilin delegations

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By 2017-11-23

The Board of Investment (BoI) of Sri Lanka hosted a delegation from China, consisting of 30 Senior Government officials on a fact-finding mission to ascertain the potential of Sri Lanka as an economic partner for trade, tourism and investment, a press release stated. The delegation, led by People's Government of Shijingshan District of Beijing Vice Chief Executive Xiao Ping, included a number of senior officials from other provinces of China.

The Chinese visitors were briefed by BoI on Sri Lanka's business-friendly environment and on the current status of investment in the country, the release added. BoI Media and Publicity Director Dilip S Samarasinghe made a presentation to the Chinese delegation, following which, Xiao Ping stated, "My delegation is pleased to visit Sri Lanka, which is a beautiful country. We deeply appreciate the warm welcome of the Sri Lankan people and the citizens of the great city of Colombo."

He added that the wealthy district he represented, Shijingshan, was just 14km away from Beijing's Tiananmen Square and hosted 8 very important companies. He promised to promote Sri Lanka for future investment and trade to the management of those leading enterprises. Currently, his Government targeted the development of several green universities within the 84 sq km district. Shijingshan is also famous for finance and industry.
Another delegation also visited the BoI recently, hailing from Jilin Province in the North East of China, which borders North Korea and Russia. It is a province rich in mineral resources, whose industries include automobile and railway carriage manufacturing and other steel-based products. The capital of Jilin Province is Changchun. This delegation's visit to Sri Lanka was organized by the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCSL) and was led by China Department of Commerce Vice Director General Sun Guohua.

The Jilin visitors consisted of 3 Government officials and 10 members from the private sector of the province.

Their area of interest was mainly in exploring awareness of investing in the construction sector, manufacturing and light industries.
China, with a cumulative Foreign Direct Investment (FDI) of US$ 1.1 billion for the period 2005-2016, is the third-ranked source of FDI for Sri Lanka. In addition, another US$ 1.145 billion of Sri Lanka's FDI in 2005-2016 originated from Hong Kong, which ranked second place. There are currently 25 Chinese companies that have invested and operate in Sri Lanka as BoI enterprises (Section 17). A further 9 Chinese enterprises are awaiting commercial operation, while 7 more have been approved, the release concluded.

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