‘Leasing land to the Chinese in Hambantota, not in Sri Lanka’s interests’

By Hiran H.Senewiratne-December 27, 2016, 7:34 pm 

Leasing out 15,000 acres of land to China in the Hambantota district for setting-up an Exclusive Economic Zone is not in Sri Lanka's interests, but such land should be open to other investors as well, president, National Chamber of Exporters (NCE) Saradha de Silva 
said.

" We are not agreeable  for a specific country to open an economic zone exclusively for itself but we want any investor to invest in the proposed zone. Because this would create geo-political and social issues, de Silva told The Island Financial Review.

He said that this type of economic zone would create social, political and economic problems from a medium to long term perspective, but this situation could be averted by opening this economic zone to other prospective investors as well.

" Because of this economic zone, India being our nearest neighbour, it would create some tension due to that, de Silva said.

Associate Professor of Lee Kuan Yew University, Singapore Razeen Sally previously said that it is not favourable for Sri Lanka to go after Chinese investors alone, because the Chinese Communist Party has a different agenda.

He said that Chinese entrepreneurial culture is different to that of Sri Lanka, which could lead to cultural issues as well.

The Chinese Communist Party has an international policy which is not favourable to Sri Lanka at all, he said.

Investors from China have requested for land from the Southern Province to commence many business ventures which have the potential to generate a million jobs, Development Strategies and International Trade Minister Malik Samarawickrema said.

"The Chinese have requested 15,000 acres from the Hambantota district to commence different industries. That itself will create one million jobs, he said..

This industrial zone would reduce the volume of goods imported by China through the FTA and generate local employment, it is believed.