China makes inroads in Sri Lanka

[samv]

China makes inroads in Sri Lanka

Press Trust of India / Colombo June 07, 2012, 18:15

From developing a new transshipment port in Sri Lanka's south to becoming its chief foreign lender, China is making deep strategic inroads in the country traditionally believed to be India's backyard.

Besides investing in infrastructure products, China is also working with Sri Lanka to expand business opportunities.

At an interactive session conducted by the China Business council of the Ceylon Chamber of Commerce, the island's main trade chamber, experts discussed how the Sri Lanka-China business links will be further strengthened in the years to come.

The session focused on export opportunities and challenges in the Chinese market for Sri Lankan exporters.

Sri Lankan trade officials, however, expressed satisfaction over the remarkable growth during the past few years showing positive results of increased export volumes to China.

Sri Lanka's tourism sector too has benefitted from the increasing number of Chinese visiting the country.

In year 2011, the total number of Chinese tourists arriving in Sri Lanka exceeded 16,000 compared to 10,430 in year 2010.

"This is a positive sign that Chinese travelers have now included Sri Lanka in their travel itineraries and we anticipate further increase of tourist arrivals from China during the year 2012," president of the Sri Lanka-China business Council Prabath Harshakumara said.

China is currently Sri Lanka's main lender.

The China Development Bank Corporation has agreed to provide USD 1.5 billion within three years for construction of roads, bridges, power plants and water and irrigation schemes.

China has lent USD 360 million for the first phase of the new port in Hambantota and its Exim Bank has lent USD 77 million for an oil bunkering facility, while another USD 810 million has been given for the second phase.

China's Exim Bank loaned Sri Lanka USD 455 million to build the first phase of first coal-powered generation station at Norochcholai in the island's west coast, and has offered a USD 891 million loan to build the second phase of 600 MW.

A USD 310 million Chinese loan from its Exim Bank has been granted for the Colombo-Katunayaka express road, which will connect Sri Lanka's only international airport and capital Colombo.

China has also lent USD 190 million for Sri Lanka's second international airport in Hambantota, which is the home base of President Mahinda Rajapaksa.

China makes inroads in Sri Lanka | Business Standard





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Meanwhile.....


New Delhi cold-shouldering Colombo for over two years

COLOMBO, May 30, 2012

R. K. RADHAKRISHNAN

Sri Lanka and India haven’t had a bilateral engagement at the top-most levels in governance, reflecting the changing priorities in New Delhi towards its immediate neighbourhood. A series of issues between Sri Lanka and India since the close of the Eelam war IV in May 2009, which saw the demise of the Tamil Tigers, has seen New Delhi cold-shoulder Colombo for over two years.

The Hindu : News / National : New Delhi cold-shouldering Colombo for over two years

 

[Skyline]

China to build F1 track & new city in the sea.

Sri Lanka targets $5bn into ports; new race track by 2014: report

June 07, 2012 (LBO) – Sri Lanka hopes to attract five billion dollars in foreign direct investments from the ports sector by 2014, which includes a project to build a formula one track on reclaimed land, a report said.

Sri Lanka is on an investment drive to develop its ports facilities, including the main commercial port in the capital of Colombo and a new facility in Hambantota, in the south.

Sri Lanka targets $5bn into ports; new race track by 2014: report - LANKA BUSINESS ONLINE

It looks like China is controlling Sri Lanka.

 

[Chinese-Dragon]

If you want to invest in the South Asian region, you can't go wrong with Sri Lanka.

Sri Lanka has the fastest GDP growth rate in South Asia, followed by Bhutan.

 

[skyknight]

China brings prosperity to his friends，this is the significance of peace-rising。

 

[ahfatzia]

China to build F1 track & new city in the sea.

Sri Lanka targets $5bn into ports; new race track by 2014: report

June 07, 2012 (LBO) – Sri Lanka hopes to attract five billion dollars in foreign direct investments from the ports sector by 2014, which includes a project to build a formula one track on reclaimed land, a report said.

Sri Lanka is on an investment drive to develop its ports facilities, including the main commercial port in the capital of Colombo and a new facility in Hambantota, in the south.

Sri Lanka targets $5bn into ports; new race track by 2014: report - LANKA BUSINESS ONLINE

It looks like China is controlling Sri Lanka.

Many old timers like my parents have romantic fond memories of Sri Lanka and I grew up with Ceylon tea myself.

Partly because the strategic location, I see your country can go far.

 

[samv]

China brings prosperity to his friends，this is the significance of peace-rising。

Agree.

Also, China does not interfere politically unlike some other neighbouring countries. China gains influence through its economy and investments instead which is a much better way of projecting "power" IMO.

 

[phylumchordata]

Agree.

Also, China does not interfere politically unlike some other neighbouring countries. China gains influence through its economy and investments instead which is a much better way of projecting "power" IMO.

Kill some chinese and you would know.

 

[skyknight]

Agree.

Also, China does not interfere politically unlike some other neighbouring countries. China gains influence through its economy and investments instead which is a much better way of projecting "power" IMO.

Because China was also poor and weak and interfered by those west countries in the past 。
We know what the third-world countries want，they need investment ， infrastructure and the technical support without political terms。
China believes that China's friends can solve their internal affairs by themselves, The only thing China needs to do is helping them with capital and technology and building a win-win equal relationship with them。

Kill some chinese and you would know.

U are disgusting。

 

[kawaraj]

China seems take SL more seriously than Pakistan in economic assistance(not aid, that won't help). Jealous but we know time will come.

I personally appreciate China's contribution to Africa. The past 10 years witness the best 10 years for the black continent in African history. Some most improved nations are deeply assisted by China in its development. Namely Sudan, Angola, Ghana, Tanzania, etc. China help them set up modern agriculture, industrial basics and service sectors mainly trading with outside, China even builds infrastructure for these countries.

 

[Chinese-Dragon]

Kill some chinese and you would know.

Is that your idea of a joke, Indian?

 

[Skyline]

New Colombo Port City project.

 

[harpoon]

U are disgusting。

Nothing disguising about here. All this talk of 'political non-interference' will go out of the window if some Chinese citizens are harmed in SL. We already saw that in Pakistan.

 

[scorpionx]

No country does charity today. all these goody goody love affair between china and srilanka has just one intention.ENCIRCLE INDIA.Most irony is if india makes a military base in viet or anywhere nearby china the first one to launch protest is none other than CHINA!

 

[Skyline]

China Harbour Corporation also interested about star hotel near airport BIA.

Star hotel near BIA, China frontrunner

 

[kawaraj]

No country does charity today. all these goody goody love affair between china and srilanka has just one intention.ENCIRCLE INDIA.Most irony is if india makes a military base in viet or anywhere nearby china the first one to launch protest is none other than CHINA!

Oh, come on buddy, don't pamper your insecurity splashing the board.