The Ceylon
Institute of Builders, a leading building institution and service provider in
the construction industry, organized a seminar to raise awareness among
decision-makers, practitioners, and other industry stakeholders of the new
Government's new opportunities. Dr. Priyathbandu Wickrama, Secretary for the
Ministry of Water Supply, Urban Development Authority, Consultancy General
Manager Ananda Samarasinghe, Infrastructure, and IT Board of Investment
Director Ranjan Sibera, CIOB President Dr. Rohan Karunaratne, and CIOB
Secretary Eng. Saliya Kaluarachi joined the program as a presenter.
Dr. Wickrama
claimed in the keynote speech that the Government would serve as a catalyst to
help the construction industry and would make the payments via the planned interim
budget due to the construction companies. He further mentioned that four main
cities to be built, i.e., Hambantota, Trincomalee, Jaffna, and Colombo, with
nine corridors of the economy. In these leading cities.
He also said that
the state would use foreign funding from overseas construction firms and give
sub-contracts for mega projects to local companies. The builders for local
investment would be local construction firms. Dr. Priyathbandu Wickrama told
the participants that in the next few years, the Government plans to invest
around Rs. 790 b on other developments in water projects. He said they needed
professional contractors for construction.
The Government
claims that in a system made under a national strategy, there are many
resources available for the construction industry. Siberia said that the
Government has agreed to achieve its objectives by building as the primary
industry and has called foreign players to undertake international projects.
Via the construction sector, the BOI hopes to contribute 5% to the GDP.
Dr. Karunaratne
claimed that he wished to help the membership of the CIOB and the industry with
the new opportunities available to them in the new growth plans in Sri Lanka,
in particular. He said the sector had been seriously affected over the last few
years, adding that the country had acquired strong leadership with the mandate
provided by the majority of citizens.
To achieve
anticipated growth and financial stability, the CIOB aims to assist market
stakeholders by disseminating knowledge from time to time through seminars and
forums. This active seminar attends by CIOB participants from all major and
specialist construction firms and branded manufacturers, experts, academics,
and other industry stakeholders.
OSL Take: Sri Lanka is presently undergoing an aggressive program of growth
covering all principal areas of the economy on the island. The Colombo Port City development is one of
the country's major continuing mega-projects to match Sri Lanka with many
financial hubs in South East Asia. Given the geographical location of Sri Lanka
in the Indian Ocean, the country's relaxed corporate climate and numerous trade
arrangements and the island's trade concessions have created Sri Lanka, the
perfect company destination in the South Asian area. Foreign
businesses/investors could, therefore, investigate possibilities for
business/investment in the Port City project in Sri Lanka.
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