Chinese investments Archives - Ceylon Independent

Sri Lankan Ambassador to China Karunasena Kodituwakku on Wednesday strongly pushed back recent media reports criticizing Chinese investments in his country, saying that Sri Lanka was not forced to accept investments and loans from China and wants to continue cooperation with China under the Belt and Road (B&R) initiative. Chinese investments in Sri Lanka have come under increased criticism, mostly from Western media and officials, who have accused China of using a debt trap to gain control of strategic commercial routes, after a Chinese company’s acquisition of stakes in a strategic port. But the Sri Lankan ambassador painted a vastly different picture. “What I want to highlight here is that Sri Lanka asked for this project loan on our own. We were not forced to get this loan,...

Sri Lanka has the potential to grow into a regional hub with more Foreign Direct Investments (FDIs) from other countries including China, Asian Development Bank (ADB) Vice President Zhang Wencai told Xinhua in a recent interview. Zhang said Sri Lanka’s present economic growth was between 4.5 to 5 percent, but the island country had the potential to grow faster with more private sector investments. Zhang said Sri Lanka had great potential but it needed to expand investments in various sectors including its manufacturing and service sectors, and to further improve its business climate. “The country has big potential to be a regional trade and logistic hub with more external investments in sectors such as manufacturing.” Zhang said. “The country should not just rely on tea, ...

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Sri Lanka was not ‘forced’ to accept Chinese loans – envoy

Sri Lanka has potential to be regional hub with more FDIs – ADB