Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website Xinhua Silk Road - Belt and Road Portal, China's silk road economic belt and 21st Century Maritime Silk Road Website
Subscribe CustomBlackClose

Belt & Road Weekly Subscription Form

download_pop

Research ReportCustomBlackClose

The full edition of the report is available at Xinhua Silk Road Database. You can click the “Table of Content” to have a general understanding of it.

Click on the button below to create your account and get immediate access to thousands of articles.

Start a Free Trial

Xinhua Silk Road Database
Belt and Road FAQ

Sri Lankan cabinet approves establishing financial city on Chinese project

August 12, 2016


Abstract : Sri Lanka's cabinet has approved a proposal to draft the required legislation to establish a financial city in Colombo as part of a Chinese-funded port city project, the government said on August 10.

COLOMBO-- Sri Lanka's cabinet has approved a proposal to draft the required legislation to establish a financial city in Colombo as part of a Chinese-funded port city project, the government said on August 10.

The government said the key objective of the proposed financial city is to become the prominent financial hub in the region to attract foreign investments from South Asian and Middle East region as well as from European countries.

It will also provide broad opportunities of employment for Sri Lankans, the government said following the weekly cabinet meeting.

The cabinet of ministers approved the proposal made by Prime Minister Ranil Wickremesinghe, in his capacity as the Minister of National Policies and Economic Affairs, to implement the project under the supervision of the Ministry of National Policies and Economic Affairs, to draft legislation for establishment of the Financial City and to obtain required legal services in this regard.

The Chinese funded port city is being constructed in the capital near the main port in Colombo.

(By Easwaran)

Scan the QR code and push it to your mobile phone

Keyword: Lanka Sri

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to [email protected] and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial

Ask Us A Question belt & road login close

If you have any questions, please enter them in the box below.

Identifying code Reload

Write to Us belt & road login close

Do you want to be a contributor to Xinhua Silk Road and tell us your Belt & Road story? Send your articles to silkroadweekly@xinhua.org and share your stories with more people.

Click on the button below to create your account and get im http://img.silkroad.news.cn/templates/silkroad/en2017te access to thousands of articles.

Start a Free Trial