China to invest US$ 50 billion in the Hambantota port city.

[Shabz Nist]

At last we will get a money marking port!

Dont be too sure.

 

[Chinese-Dragon]

No one expects any business to "Stop making profit". But it gets a tad bit ridiculous when "everything" is imported from china....including labor. labor unions in India would never let stuff like that happen......maybe, the same will happen in SL as well.....hopefully.

If you don't like the deal, then don't take the deal.

Indians are always complaining about stuff like this, but strangely their trade deficit to China keeps increasing year after year.

If you have a problem with it, stop buying it!

 

[Shabz Nist]

^ commodities.

 

[Chinese-Dragon]

^ commodities.

Here, have a read:

The Washington Post - Chinese workers fuel India's infrastructure boom

IN CHANDANKYARI, INDIA Perched precariously on scaffolding, several Chinese workers showed Indian laborers how to weld the shell of a blast stove at a steel plant construction. Step by step, the Indians absorbed the valuable skills needed to build a large, integrated factory from scratch in record time.

"I have worked on building four new steel plants in the last 10 years in China, and I am here to teach Indian workers to do the same," Hulai Xiong, 38, said about the construction site in the eastern Indian state of Jharkhand. "In China, we build very fast. Indian workers are slow and sometimes lazy. They are not familiar with modern industrial construction processes."

Clad in blue overalls, 1,600 Chinese supervisors, technicians and other laborers work at the 2,000-acre site. The $1.7 billion factory, which also relies on Chinese technology, employs 5,000 Indian workers.

Chinese companies and workers are in India building such vital things as INFRASTRUCTURE. The kind of infrastructure (trains, roads) that carry millions of your people every day.

Or maybe you think the "Washington Post" is Chinese propaganda?

 

[rcrmj]

Meaning, no trickle down effect to your industries or manufacturing sectors. the projects themselves will contribute nothing....considering, these investments are entirely self-serving.

exactlly just like how those FII investments explore India's tiny fragile economy

Here, have a read:

The Washington Post - Chinese workers fuel India's infrastructure boom



Chinese companies and workers are in India building such vital things as INFRASTRUCTURE. The kind of infrastructure (trains, roads) that carry millions of your people every day.

Or maybe you think the "Washington Post" is Chinese propaganda?

your hard evidence will be refuted by Indians denial and inferior complexity

 

[Jiang]

Chinese companies only import labors if the country's wage is higher than Chinese workers. Or if the cost of training workers are too high.

The whole point of investment is to make returns, whether monetarily or good will. Any country anywhere usually welcomes fixed asset investments because they create jobs and increase productivity.

 

[boltu]

Good luck with that Sri Lanka,you people got an amazing leader,,,And look at our big mouth Prime minister always talking craps,doing nothing.In administrative works women are good for nothing,at least in Bangladesh.

 

[idune]

For SriLanka there is strategic value other than commercial and economic one, good thing is that SriLankan govt did not loose sight of that. So long sriLanka can keep india other side of Palk strait, projects and investment will be success for both SriLanka and China.

 

[SamranAli]

its win win deal both for for sri lanka and china.

 

[Skyline]

The Ministry of Industry and Commerce says a Chinese firm is planning to invest an unbelievable US$ 50 billion in Sri Lanka to develop a port city in Hambantota, which would be the largest ever foreign investment in the country at a staggering 83 percent of GDP.

This was disclosed by the Ministry in a statement announcing a bilateral meeting on the sidelines of Expo 2012 last week. A spokesman for the ministry confirmed to The Island Financial Review that the proposed investment was indeed US$ 50 billion.

"Sri Lanka now wants to run its’ successful international ‘Sri Lanka Expo’ series once in very two years. "Under the directive of His Excellency Mahinda Rajapaksa, our President, we are now planning to host this international series once in every two years. As a result, our next ‘Sri Lanka Expo’ series is now being primed to be held in early 2014," said Rishad Bathiudeen, Minister of Industry and Commerce of Sri Lanka.

Bathiudeen announced this to the 13 member Chinese investment delegation that made a courtesy call on him on 30 March in Colombo. The Delegation was organised by Beijing based Sino-Sri Lanka Rich Investment, led by Ms Song Jien Hua, its Chairwoman.

The 13 member Chinese Business delegation arrived as part of the overall 150 Chinese business group that arrived in Colombo to take part in the Sri Lanka Expo 2012 organised by the Export Development Board under the Ministry of Industry and Commerce.

The delegation comprised of powerful, state of the art have state-of-art technology players in fertilizer, port development, energy, petrochemistry, cement, and machinary. "We are now hoping to invest $50 billion in Hambanthota Trade City Project, hoping to establish an international port that can compete with the Singapore port in 10 to 15 years and can bolster up Sri Lanka’s ambition to be the hub of shipping in south Asia. We want to invest US $ 50 billion in this project," revealed Ms Song Jianhua and added: "We had a good experience during this visit to Sri Lanka and believe the country has investment promise. We are committed to creating jobs and promote economic growth in Sri Lanka with financial strength."

Responding to the delegation, Bathiudeen said: "The Expo 2012 and also the conducive business and investment environment you see today in Sri Lanka is a result of the development vision of the President. Last year we recorded 8.3% GDP growth and the safety of foreign investments in Sri Lanka are guaranteed by the constitution, some reasons Expo 2012 became a success."

The Island

---

I still can't believe these numbers
(April 1st joke? )

 

[Aramsogo]

Wait till the lankan saps figure out the chinis are planning on importing labour and material for any infra development all the way from china.

Jealous much??
You think other countries are just going to give you free infrastructure??

Wait a minute, that really is what Indians think Japan and Korea are going to do. LOLLL.

 

[itaskol]

I still can't believe these numbers
(April 1st joke? )

I do believe the number.
It is not AID or loan. it is investment.

 

[twocents]

I still can't believe these numbers
(April 1st joke? )

I can't blame you for being incredulous. It is a huge number. The story also mentions a timeline of 10 to 15 years. That makes it more believable. To compete with Singapore definitely needs that kind of investment over an extended period of time. I certainly hope it comes true. It'll be great for both of our nations.

 

[Fanling Monk]

If one look at the strategic location of Hambantota he wouldn't be surprised about its attractions to some global players. Even though $50 billion is unusual huge but it is contributed by 150 companies and, perhaps, the government. This large sum of investment also indicate China's long term commitment to Sir Lanker.

My suggestion to Sri Lankans is to buy as much land as possible in Hambanbota while it's still cheap, because 10 years down the line you will see a completely different city.

 

[Lankan Ranger]

Next Chinese President Xi Jinping a good friend of Sri Lanka........

Sri Lankan PM D. M. Jayaratne met Mr.Xi Jinping Earliear....

Mr.Xi Jinping