360° Coverage : China becomes Sri Lanka's largest foreign investor

11 Updates

China becomes Sri Lanka's largest foreign investor

Dec 3 2013, 8:12am CST | by IANS

Colombo, Dec 3 (IANS) China has emerged as Sri Lanka's largest foreign direct investor accounting for 24 percent of the inflows in 2013, an official said here Tuesday.

Colombo, Dec 3 — China has emerged as Sri Lanka's largest foreign direct investor accounting for 24 percent of the inflows in 2013, an official said here Tuesday. The Sri Lankan government has set a...

Filed under: news

YouTube Videos

 
 
 

42 weeks ago

China becomes Sri Lanka's largest foreign investor

Dec 3 2013, 8:12am CST | by IANS

Colombo, Dec 3 (IANS) China has emerged as Sri Lanka's largest foreign direct investor accounting for 24 percent of the inflows in 2013, an official said here Tuesday.

Colombo, Dec 3 — China has emerged as Sri Lanka's largest foreign direct investor accounting for 24 percent of the inflows in 2013, an official said here Tuesday.

The Sri Lankan government has set a target of $2 billion in foreign direct investment (FDI) for 2013 and as of November had achieved $1.2 billion of the target.

Investment Promotion Minister Lakshman Yapa Abeywardene said companies from China accounted for the largest amount of FDI into the country followed by Hong Kong with 12 percent.

Singapore came third in line with 10 percent, while the Netherlands and Malaysia rounded out the top five.

"We are very satisfied with the FDI progress this year. Last year FDI was $1.2 billion. We have already matched this amount and are confident of exceeding it by December. This year FDI created 10,000 additional jobs in Sri Lanka," he added.

Around 31 percent of the FDI was for manufacturing with 19 percent for port terminals and 17 percent for telecommunications. Property development received 13 percent of the investment, while hotels and restaurants grabbed 6 percent.

In contrast, agriculture, information technology and business process outsourcing industries only got 1 percent each of FDI.

"In 2013 the state-run board of investment approved 118 FDI projects with a combined value of $1.9 billion. Of these, 105 projects have had their agreements signed, while 55 have begun implementation," he added.

More than 100 Chinese delegates participated in the Commonwealth Business Forum held last month on the sidelines of the Commonwealth Heads of Government Meeting, where deals amounting to over $1.5 billion were signed with Chinese companies.

After Sri Lanka ended a 30-year war in 2009, China has emerged as largest loan provider with $1.2 billion in 2009 and $821 million in 2010 to Sri Lanka.

In 2011 the loan amount fell to $784.7 million, but China remained involved in almost all the large-scale projects in Sri Lanka, according to the finance ministry.

IANS

Source: IANS

 
Update
11

1 week ago

Rehan warns Pakistan against complacency

Sep 22 2014 2:00pm CDT | Source: The Nation - Pakistan

ISLAMABAD  - Olympian Rehan Butt expresses satisfaction over green shirts performance in the first two matches of the Asian Games Hockey event but warns team must not relax as they are known for lack of consistency. He said the way green shirts started the title defence against Sri Lanka was quite amazing. “It was quite heartening performance keeping in mind boys are completely out of ... ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
10

1 week ago

Pakistan thrash Sri Lanka 14-0 in campaign opener

Sep 20 2014 2:00pm CDT | Source: The Nation - Pakistan

Incheon Defending champions Pakistan beat Sri Lanka 14-0 in their first match of 2014 Asian Games hockey event in Seonhak Hockey Stadium, South Korea. The new pattern of field hockey with four quarters of 15 minutes instead of two halves of 35 minutes came into play in the match. Pakistan took an unassailable 4-0 lead in the first quarter, opening their acco ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
9

1 week ago

China’s Xi holds talks with Sri Lankan president

Sep 16 2014 2:00pm CDT | Source: The Nation - Pakistan

COLOMBO - China’s President Xi Jinping held talks Tuesday with his Sri Lankan counterpart, seeking to strengthen defence ties with the strategically located Indian Ocean nation that could provoke unease in neighbouring India. China is increasingly asserting its influence in Sri Lanka, a midway point on one of the world’s busiest international shipping lanes. It is al ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
8

2 weeks ago

Maldives promises Chinese president support for his modern ‘Silk Road’ initiative

Sep 15 2014 10:18am CDT | Source: Canadian Business Online

MALE, Maldives – Chinese President Xi Jinping began a weeklong tour of South Asia on Monday, choosing the tiny island nation of the Maldives to tout his vision for a modern maritime “Silk Road.” Maldives President Yameen Abdul Gayoom said his country was ready to participate actively in the initiative to create a shipping route from China to Europe via West Africa. Smaller Indian Ocean nations like the Mal ...
Source: Canadian Business Online   Full article at: Canadian Business Online
 

 
Update
7

2 weeks ago

Rashid slams Waqar, Mushtaq for not handling Ajmal issue

Sep 11 2014 2:00pm CDT | Source: The Nation - Pakistan

Karachi - Former Pakistan captain Rashid Latif Wednesday slammed chief coach Waqar Younis and spin coach Mushtaq for not handling Saeed Ajmal and exposing too much during series against Sri Lanka. “To be fair, I think Saeed Ajmal should not have played at all in the 2-Test match series against Sri Lanka,” he said in statement issued here. He also blamed ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
5

4 weeks ago

Pakistani bating line collapses again

Aug 30 2014 8:06am CDT | Source: The Nation - Pakistan

Colombo- With a dismal performance in a decisive one-day international against Sri Lanka, Pakistani bating line collapsed again; all out for 102. Pakistan captain Misbah-ul Haq won the toss and chose to bat in the third ODI in Dambulla today. All batsmen were out in 32.1 overs. Nine wickets fell at 88 and the final wicket collapsed at 102. Pakistan welcomed back spin spe ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
4

4 weeks ago

River Kwai film bridge to be rebuilt

Aug 29 2014 1:18pm CDT | Source: BBC News

Sri Lanka is to rebuild the replica bridge destroyed in an iconic scene from the film Bridge on the River Kwai, as part of a tourism drive. ...
Source: BBC News   Full article at: BBC News
 

 
Update
3

4 weeks ago

Ajmal’s suspect action: PCB prepared for worst

Aug 28 2014 2:00pm CDT | Source: The Nation - Pakistan

KARACHI - Pakistani cricket authorities are prepared for the worst possible scenario in the Saeed Ajmal bowling action case. An official in the Pakistan Cricket Board (PCB) said on Wednesday that Ajmal had joined the Pakistan squad in Sri Lanka for the final one-day international. "We have been told we will be informed about the findings o ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
2

4 weeks ago

All-round Perera shatters Pakistan

Aug 26 2014 2:00pm CDT | Source: The Nation - Pakistan

HAMBANTOTA - Thisara Perera smashed 65 off 36 balls and then grabbed three wickets as Sri Lanka thumped Pakistan by 77 runs in the second one-dayer on Tuesday to level the three-match series 1-1. Sri Lanka recovered from 194-6 to post a commanding 310-9 in their 50 overs after electing to bat, before dismissing Pakistan for 233 in 43.5 overs in the day-night ...
Source: The Nation - Pakistan   Full article at: The Nation - Pakistan
 

 
Update
1

4 weeks ago

TESO pats Modi, calls for political solution in Sri Lanka

Aug 26 2014 4:40am CDT | Source: Business Standard

Tamil Eelam Supporters Organisation (TESO), headed by DMK president M Karunanidhi, today lauded the Narendra Modi regime for coming forward to find a political solution for the Tamils issue in Sri Lanka and urged the Centre to expedite s ...
Source: Business Standard   Full article at: Business Standard
 

 

Don't miss ...

 

blog comments powered by Disqus

Latest stories

Man dies two years after being struck by stray bullet
Santiago, Sep 30 (IANS/EFE) A 23-year-old Chilean man died after two years in a persistent vegetative state as a result of being shot in the head unintentionally by a law enforcement officer during a student protest in October 2012, his family said Monday.
 
 
Over 2,000 Germans volunteer to help battle Ebola
Addia Ababa, Sep 29 (IANS) Over 2,000 Germans have heeded the government's call to register as volunteers for deployment to fight the Ebola virus disease outbreak in Guinea, Liberia and Sierra Leone, the African Union (AU) said in a statement Monday.
 
 
India open minded, wants change, Modi tells top US executives
New York, Sep 29 (IANS) India is open-minded and wants change, Prime Minister Narendra Modi told top executives of American companies, including Google and Citigroup, during a high-powered breakfast meeting here Monday.
 
 
World hunger falls but 805 mn still chronically under-nourished: FAO
Abu Dhabi, Sep 29 (IANS/WAM) Despite the overall progress made in global hunger reduction, 805 million people are estimated to be chronically undernourished in 2012-14, down more than 100 million over the last decade, and 209 million lower than in 1990-92, the UN's Food and Agriculture Organisation (FAO) said Monday.
 
 
 

Latest from the Network

Christina Milian throws Lil Wayne birthday bash
Christina Milian threw her boyfriend Lil Wayne a surprise birthday party last week. The 33-year-old singer arranged a secret bash at the Malibu Rocky Oaks Estate Vineyards last Wednesday (09.24.14) so that her rapper...
Read more on Celebrity Balla
 
Cheryl Fernandez-Versini cried when she saw Kimberley Walsh's baby son
Cheryl Fernandez-Versini burst into tears when she met Kimberley Walsh's baby son for the first time. The 'Crazy Stupid Love' hitmaker was overcome with emotion when she locked eyes on her best friend's new bundle of...
Read more on Celebrity Balla
 
'Chalein saath saath', US tells India
Washington, Sep 30 (IANS) Once shunned by America, Indian Prime Minister Narendra Modi was the guest of honour at a private dinner hosted by US President Barack Obama ahead of their formal summit Tuesday to reset...
Read more on Politics Balla
 
UN chief to attend WTO forum in Geneva
United Nations, Sep 30 (IANS) UN Secretary-General Ban Ki-moon is scheduled to travel to Geneva of Switzerland Tuesday to attend a forum held at the Headquarters of the World Trade Organisation (WHO), UN spokesman...
Read more on Politics Balla
 
Katie Price disapproves of Miley Cyrus's hairdo
London, Sep 30 (IANS) Former model Katie Price says she does not like it when singer Miley Cyrus wears her hair "really short". The 36-year-old discussed her likes and dislikes about celebrity hairdos in an interview...
Read more on Celebrity Balla
 
Kelly Brook slams McIntosh, calls him needy, insecure
London, Sep 30 (IANS) After splitting with fiancé David McIntosh, actress-model Kelly Brook has slammed her former beau saying he's a very needy and insecure man. McIntosh is rumoured to have cheated on Brook with his...
Read more on Celebrity Balla
 
Modi arrives in Washington for summit meeting with Obama
Washington, Sep 30 (IANS) Indian Prime Minister Narendra Modi arrived in Washington Monday evening for his summit meeting with US President Barack Obama. US Deputy Secretary of State William Burns received Modi at...
Read more on Politics Balla
 
Jessie J tells parents about sex life
Jessie J tells her parents about her sex life. The 'Bang Bang' singer admits she's enjoying romancing different people at the moment but has told her mother Rose and father Stephen that her plans to have children will...
Read more on Celebrity Balla
 
Tracy Morgan blamed by Walmart for failure to wear seatbelt
Walmart has claimed Tracy Morgan's life-threatening injuries were ''caused'' by his failure to wear a seatbelt on the day one of their drivers ploughed into his car. The retail giant is being sued by the former '30 Rock...
Read more on Celebrity Balla