Sri Lanka wants sustainable development driven as equal partners - Patali

As both Chinese and Indian investors sought to woo investors at the Sri Lanka Economic and Investment Conclave, Western Development and Megapolis, Minister Patali Champika Ranawaka said that given the contemporary geopolitical environment, small nations like Sri Lanka are now in a position to deal as equal partners with major economies of the world.

“What we want in this global fourth industrial revolution area is sustainable development driven as equal partners, this will benefit the entire world,”Minister Ranawaka said addressing the Conclave on Tuesday evening.

“We have to think strategically, to think of the contemporary geopolitical environment, existing fourth industrial revolution, existing environmental problems, associated green economy concepts and the cyclical economy,” he said.

The Minister also stressed the need for Sri Lanka to grasp the opportunities provided to it through the Chinese One Belt One Road initiative worth USD 1 Trillian.

“China has become a major player in manufacturing, capital investment and GDP purchasing power and it is eminent that China can be number one if all conditions are satisfied,” Minister Ranawaka added.

China’s economy which churns out the GDP equivalent of Sri Lanka every 26 days,has today become the major donor to Sri Lanka and with FDIs from the West drying out, the Minister stated that he was grateful that China considered the island nation among its friends.

“China has given us many projects and contributed immensely to the development of the country. They have contributed immensely for the development of Colombo city and we expect further funding from Chinese investors”, Minister Ranawaka said.

According to him, the government would look for funding for projects in the development corridor between Colombo-Trincomalee-Hambantota.

“Through Trincomalee we are expecting to reach Myanmar, Bangladesh, Thailand, Vietnam and China, through Colombo we will open up to Middle East, East Africa and Europe and through Hambantota to the Asia Pacific region,” he explained.

“The conceptual and structural plans for the Western Province Megapolis has been completed and it will be implemented in phases, plans for Trincomalee have been completed structurally and conceptually and the conceptual plan for Hambantota is in the design phase,” he added.

The Megapolis in turn will contain the; Port City, maritime city (from Colpetty to Dehiwela), logistic city (from Peliyagoda to Katunayake), Aero City (Ekala), Central Business District (surrounding Beira Lake), Tech city (Homagama), Innovation based development (Homagama) and developments in Meerigama. “Along with these Trincomalee will also be developed and a major population corridor has been planned connecting Trincomalee with Colombo via Kurunegala and Dambulla for you to come and invest,” Minister Ranawaka said. 


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