China will go ahead with the signing of the Hambantota Port lease agreement with the government on Saturday, said Hang Tian, Deputy General Manager, China Merchant Port Holdings Company Ltd (CMPort).
Speaking at the Sri Lanka Economic Summit 2017 at the Cinnamon Grand yesterday, he said that this is not a deal to just manage a port but it is to transform a region. “China will invest heavily in this project and create Hambantota harbor as a major logistic hub in the world,” he said.
He also said that it is necessary to have a vision and believe that with right investments and commitment, the Hambantota Port could be turned around.
Hang Tian recalled that they first entered Sri Lanka by tendering for the CICT terminal along with 19 other bidders. “But due to the gable economic crisis the others pulled out and they remained in Sri Lanka as they saw a feature in Sri Lanka.”
Meanwhile Lakshman Jayasekara, Project Director, Ministry of Megapolis and Western Province Development, said that the support they received from the local private sector towards the Megapolis development project is very poor.
Several mega projects underway in Sri Lanka are opening up significant opportunities for domestic and international businesses. These include the Western Region and the Hambantota Logistics and Industrial Zone but Sri Lankan businesses are not too keen to leverage on these, while some are concerned that they will be spectators and not be able to fully capitalize on its benefits.”
“Local companies only forward agents and are not keen to invest in projects like the light rail system and other mega projects.” He however said that the John Keels Group has set an example and have got involved in mega infrastructure projects.
Meanwhile Nadija Tambiah, Head of Legal, Secretarial and CSR, John Keells Holdings PLC, said that they are keen to engage in more mega projects but need country stability, clarity and most importantly, consistency in regulations.
She said that one area that needs quick attention is the labor laws. “We also appeal to authorities to seek ways and means to employ temporary workers.”
She also said that although there are a number of graduates, they are not seen to be actively engaged in employment.
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