Large potential for Chinese businesses to invest in Sri Lanka – State Minister

State Minister for Sports and Youth Affairs Rohana Dissanayake who visited China under the Sri Lanka–China trade investment programme ‘Expo Matale’ said that he was able to successfully conduct initial discussions with many leading Chinese businessmen to attract more foreign investments to Sri Lanka.

It is of importance that they are economic and environmentally friendly investment programmes that provide relief to the economic crisis faced by Sri Lanka.

Attention was focused on starting factories in Sri Lanka to manufacture electric cars, motorcycles and three-wheelers and light lorries, based on the business environment.

He said that discussions were also focused on the introduction of modern technology to develop the agricultural economy. It is expected to introduce modern machinery and farming equipment to the country, while saving on production costs, which is a huge problem for farmers, and ensuring an efficient and productive harvest. Also, special attention was paid to buying large farming machines with efficiency and capacity as well as small machines that can be bought at lower prices.

The investment opportunities related to the installation of solar panels and the production of electricity from wind power were also widely discussed and many Chinese businessmen expressed their interest to invest in the renewable energy sector in Sri Lanka.

A project to export bottled drinking water was also discussed.

There is a great demand and interest in China and especially in the Chengdu Province, which the Minister visited, for Sri Lankan spices such as cinnamon, pepper, cloves and cardamom, as well as for tea and coffee.

China is a huge country with a population of 1.412 billion (according to 2021 World Bank reports) with 35 provinces. Therefore, even if Sri Lanka’s ability to meet the demand is minimal, we must use our country’s maximum energy to do so, the State Minister said. Even in a background where 100 containers per month are insufficient, this is a great opportunity for Sri Lanka to earn foreign exchange, he said.

At present, with the intervention of State Minister Dissanayake, the Government is working to export spices, coffee, king coconut, etc., from the Matale and Galle regions under the name of ‘Expo Matale’ and the Minister hopes to connect businessman from all over Sri Lanka for this purpose.

During this visit, the Chinese–Russian Chamber of Commerce warmly welcomed State Minister Dissanayake and mentioned the friendship between Sri Lanka, Russia and China. The Chairman of the Chinese–Russian Chamber of Commerce said that he is ready to provide all necessary support for the trilateral market and invited the Minister to participate in the trade fair that will be held in Russia next month.

In the face of the economic crisis that Sri Lanka is facing, the State Minister said that it is his hope to make the best use of the potential to earn dollars for Sri Lanka and thereby support the Government and the people. He said that comprehensive and final decisions will be reached regarding the above facts subsequent to discussion with the President and Ministers in charge of relevant subjects.

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