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Sri Lanka, Singapore Premiers discuss stepping up cooperation through trade, investment

24Jan

By Faraz ShauketalyNo Comments

Business

Sri Lanka, Singapore Premiers discuss stepping up cooperation through trade, investment

During a three-day visit to Sri Lanka, Prime Minister of Singapore Lee Hsien Loong met with his Sri Lankan counterpart Ranil Wickremesinghe on Tuesday at Temple Trees. The two Premiers discussed a wide range of issues focusing on further enhancing the bilateral relationship between the two countries. The two leaders had fruitful discussions on how Sri Lanka and Singapore can step up cooperation through promotion of trade, investment as well as expansion of the existing cooperation in key developmental sectors, a joint statement said. Premier Wickremesinghe said the government in 2016, started discussions on a Free Trade Agreement with Singapore and signed it today. "This will increase the export of goods from our country and create new job opportunities," he said. During the me...

Gazettes pave way for Hambantota Port handover

By Ashwin Hemmathagama – Our Lobby Correspondent Gazette notifications on the shareholder agreement on two joint venture entities which will operate commercial and common user facilities respectively at the Magampura Mahinda Rajapaksa Port, reached Parliament yesterday prior to handing over of the port this weekend. China Merchants Port Holdings Company Ltd. (CMPort) or its nominees will own 85% and Sri Lanka Ports Authority (SLPA) will own 15% of the stake in Hambantota International Port Group Ltd. (HIPG), which will undertake the project identified to restructure the Magampura Mahinda Rajapaksa Port development and transform it to be a commercially-viable national asset in collaboration with the SLPA with an envisaged investment of $794 million. Hambantota International Port Se...

H’tota Port tax cuts before Cabinet

Gazette outlining tax concessions to be presented to Cabinet today Parliamentary debate on tax concessions for H’tota Port expected Friday ahead of port handover on Saturday By Skandha Gunasekara As the days tick down for the official handover of the Hambantota Port to Chinese investors on Saturday, the Government is likely to rush through a crucial gazette detailing tax concessions granted to the divested Hambantota Port by seeking approval from both the Cabinet and Parliament over the next four days. Party leaders yesterday decided to debate the gazette notification issued by International Trade and Development Strategies Minister Malik Samarawickrama under the Strategic Development Act of 2008 on Friday, before approval was granted, JVP MP Vijitha Herath told the Daily F...