• Latest
  • Trending

Colombo most suited to be South Asia’s commercial hub: Port City official

March 30, 2017
Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

April 10, 2021
India’s COVID-19 vaccine manufacturing capacity is being enhanced

India’s COVID-19 vaccine manufacturing capacity is being enhanced

April 10, 2021
The name of Farhan Akhtar's Marvel project was not revealed. (Photo: Farhan Akhtar/Instagram)

Farhan Akhtar shooting for secret Marvel project in Thailand

April 10, 2021
Image credits - Jeremy Bishop / Unsplash

Egyptologists uncover ‘lost golden city’ buried under the sands

April 10, 2021
Passport. Image credits - Spencer Davis / Unsplash

E-passports to be introduced in Pakistan by June

April 10, 2021
Image credits - Ishan @seefromthesky / Unsplash

Sri Lanka seeks $17 million from Greek ship owner over oil spill

April 10, 2021
RCB. Image credits - Royal Challengers Bangalore @RCBTweets / Twitter

Bangalore stun champions Mumbai as IPL begins with an upset

April 10, 2021
India. Image credits - Atharva Tulsi / Unsplash

India reports a record 145,384 COVID-19 infections

April 10, 2021
Vaccine. Image credits - Hakan Nural / Unsplash

Unwanted vaccines needed to help poor countries catch up, international health officials say

April 10, 2021
Image credits -

China fines Alibaba record $2.75 billion for anti-monopoly violations

April 10, 2021
Colombo. Image credits - @tk.Shakir (Taikhoom ShakirHussain)

Random antigen and PCR tests to be conducted islandwide in Sri Lanka from today

April 10, 2021
Caroline Jurie slams Mrs. Sri Lanka pageant

Caroline Jurie slams Mrs. Sri Lanka pageant

April 10, 2021
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact
Saturday, April 10, 2021
  • Login
  • Register
No Result
View All Result
NewsIn.Asia
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

    Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

    India’s COVID-19 vaccine manufacturing capacity is being enhanced

    India’s COVID-19 vaccine manufacturing capacity is being enhanced

    The name of Farhan Akhtar's Marvel project was not revealed. (Photo: Farhan Akhtar/Instagram)

    Farhan Akhtar shooting for secret Marvel project in Thailand

    Image credits - Ishan @seefromthesky / Unsplash

    Sri Lanka seeks $17 million from Greek ship owner over oil spill

    RCB. Image credits - Royal Challengers Bangalore @RCBTweets / Twitter

    Bangalore stun champions Mumbai as IPL begins with an upset

    India. Image credits - Atharva Tulsi / Unsplash

    India reports a record 145,384 COVID-19 infections

    Image credits -

    China fines Alibaba record $2.75 billion for anti-monopoly violations

    Colombo. Image credits - @tk.Shakir (Taikhoom ShakirHussain)

    Random antigen and PCR tests to be conducted islandwide in Sri Lanka from today

    Caroline Jurie slams Mrs. Sri Lanka pageant

    Caroline Jurie slams Mrs. Sri Lanka pageant

  • World
    • All
    • Japan
    • Russia
    • United States
    Image credits - Jeremy Bishop / Unsplash

    Egyptologists uncover ‘lost golden city’ buried under the sands

    India. Image credits - Atharva Tulsi / Unsplash

    India reports a record 145,384 COVID-19 infections

    Vaccine. Image credits - Hakan Nural / Unsplash

    Unwanted vaccines needed to help poor countries catch up, international health officials say

    Prince Philip, The Duke of Edinburgh, has died

    Prince Philip, The Duke of Edinburgh, has died

    Disneyland. Image credits - Kon Karampelas / Unsplash

    Sri Lanka will build South Asia’s first Disneyland

    Image credits - Adam Gonzales / Unsplash

    Singapore becomes a global cruise leader, for now

    Covid-19. Image credits - Hakan Nural / Unsplash

    Clear link between AstraZeneca vaccine and rare blood clots in brain, EMA official tells paper

    Image credits - Tim Bennett @timbennettcreative / Unsplash

    Facebook does not plan to notify half-billion users affected by data leak

    Image credits - Laine Cooper @laine23 / Unsplash

    China sends more jets; Taiwan says it will fight to the end if there’s war

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Series
    The name of Farhan Akhtar's Marvel project was not revealed. (Photo: Farhan Akhtar/Instagram)

    Farhan Akhtar shooting for secret Marvel project in Thailand

    SAG Awards 2019. Rob Latour/REX/Shutterstock

    Key winners at the 2021 Screen Actors Guild Awards

    The tragic life of Bollywood’s ethereal beauty

    The tragic life of Bollywood’s ethereal beauty

    © Photograph: Chris Pizzello/Invision/AP Busy … George RR Martin.

    George RR Martin signs five-year, eight-figure deal for more HBO projects

    Art across the Palk Strait

    Art across the Palk Strait

    Marvel - Black Widow

    Marvel couldn’t wait any longer to kick off its next phase of movies and shows

    Image credits - Glenn Carstens-Peters / Unsplash

    Amazon Prime Video to produce its first Bollywood film in India

    Image credits - The Verge

    Justice League: After four years and countless tweets, the Snyder Cut is here

    Instagram to filter unwanted messages to teenagers from adults

    Instagram to filter unwanted messages to teenagers from adults

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Pakistani dates tickle Lankan taste buds

    Pakistani dates tickle Lankan taste buds

    Image credits - Adam Gonzales / Unsplash

    Singapore becomes a global cruise leader, for now

    Covid-19. Image credits - Hakan Nural / Unsplash

    Clear link between AstraZeneca vaccine and rare blood clots in brain, EMA official tells paper

    Image credits - Lukas Blazek / Unsplash

    Is Big Tech going off remote working?

    Image credits - JC Gellidon / Unsplash

    A third of COVID survivors suffer neurological or mental disorders: study

    2456 Chinese nationals given the first dose of Sinopharm vaccine

    2456 Chinese nationals given the first dose of Sinopharm vaccine

    Image credits - Gene Gallin / Unsplash

    Hula hooping is the latest pandemic at-home workout

    India has not banned export of COVID-19 vaccine

    India has not banned export of COVID-19 vaccine

    Image credits - Pushpak Dsilva / Unsplash

    Chocolate makers have sweet-loving Indians in their sights

    Image credits - Hakan Nural / Unsplash

    Scientist behind coronavirus shot says next target is cancer

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Image credits - Tim Bennett @timbennettcreative / Unsplash

    Facebook does not plan to notify half-billion users affected by data leak

    Image credits - Lukas Blazek / Unsplash

    Is Big Tech going off remote working?

    Facebook. Image credits - Solen Feyissa @solenfeyissa

    Here’s how to tell if your Facebook account was one of the half-billion that were breached

    Image credits - John123521 / Wikimedia

    LG Electronics says it will end production and sales of its loss-making smartphone division

    Facebook. Image credits - Solen Feyissa @solenfeyissa

    533 million Facebook users’ phone numbers and personal data have been leaked online

    Image credits - Mika Baumeister / Unsplash

    What­sApp font tricks that you should know

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
  • Home
  • Around South Asia
    • All
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
    Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

    Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

    India’s COVID-19 vaccine manufacturing capacity is being enhanced

    India’s COVID-19 vaccine manufacturing capacity is being enhanced

    The name of Farhan Akhtar's Marvel project was not revealed. (Photo: Farhan Akhtar/Instagram)

    Farhan Akhtar shooting for secret Marvel project in Thailand

    Image credits - Ishan @seefromthesky / Unsplash

    Sri Lanka seeks $17 million from Greek ship owner over oil spill

    RCB. Image credits - Royal Challengers Bangalore @RCBTweets / Twitter

    Bangalore stun champions Mumbai as IPL begins with an upset

    India. Image credits - Atharva Tulsi / Unsplash

    India reports a record 145,384 COVID-19 infections

    Image credits -

    China fines Alibaba record $2.75 billion for anti-monopoly violations

    Colombo. Image credits - @tk.Shakir (Taikhoom ShakirHussain)

    Random antigen and PCR tests to be conducted islandwide in Sri Lanka from today

    Caroline Jurie slams Mrs. Sri Lanka pageant

    Caroline Jurie slams Mrs. Sri Lanka pageant

  • World
    • All
    • Japan
    • Russia
    • United States
    Image credits - Jeremy Bishop / Unsplash

    Egyptologists uncover ‘lost golden city’ buried under the sands

    India. Image credits - Atharva Tulsi / Unsplash

    India reports a record 145,384 COVID-19 infections

    Vaccine. Image credits - Hakan Nural / Unsplash

    Unwanted vaccines needed to help poor countries catch up, international health officials say

    Prince Philip, The Duke of Edinburgh, has died

    Prince Philip, The Duke of Edinburgh, has died

    Disneyland. Image credits - Kon Karampelas / Unsplash

    Sri Lanka will build South Asia’s first Disneyland

    Image credits - Adam Gonzales / Unsplash

    Singapore becomes a global cruise leader, for now

    Covid-19. Image credits - Hakan Nural / Unsplash

    Clear link between AstraZeneca vaccine and rare blood clots in brain, EMA official tells paper

    Image credits - Tim Bennett @timbennettcreative / Unsplash

    Facebook does not plan to notify half-billion users affected by data leak

    Image credits - Laine Cooper @laine23 / Unsplash

    China sends more jets; Taiwan says it will fight to the end if there’s war

  • Business
  • Politics
  • Sports
  • Entertainment
    • All
    • Gaming
    • Movie
    • Music
    • Series
    The name of Farhan Akhtar's Marvel project was not revealed. (Photo: Farhan Akhtar/Instagram)

    Farhan Akhtar shooting for secret Marvel project in Thailand

    SAG Awards 2019. Rob Latour/REX/Shutterstock

    Key winners at the 2021 Screen Actors Guild Awards

    The tragic life of Bollywood’s ethereal beauty

    The tragic life of Bollywood’s ethereal beauty

    © Photograph: Chris Pizzello/Invision/AP Busy … George RR Martin.

    George RR Martin signs five-year, eight-figure deal for more HBO projects

    Art across the Palk Strait

    Art across the Palk Strait

    Marvel - Black Widow

    Marvel couldn’t wait any longer to kick off its next phase of movies and shows

    Image credits - Glenn Carstens-Peters / Unsplash

    Amazon Prime Video to produce its first Bollywood film in India

    Image credits - The Verge

    Justice League: After four years and countless tweets, the Snyder Cut is here

    Instagram to filter unwanted messages to teenagers from adults

    Instagram to filter unwanted messages to teenagers from adults

  • Lifestyle
    • All
    • Fashion
    • Food
    • Health
    • Science
    • Travel
    Pakistani dates tickle Lankan taste buds

    Pakistani dates tickle Lankan taste buds

    Image credits - Adam Gonzales / Unsplash

    Singapore becomes a global cruise leader, for now

    Covid-19. Image credits - Hakan Nural / Unsplash

    Clear link between AstraZeneca vaccine and rare blood clots in brain, EMA official tells paper

    Image credits - Lukas Blazek / Unsplash

    Is Big Tech going off remote working?

    Image credits - JC Gellidon / Unsplash

    A third of COVID survivors suffer neurological or mental disorders: study

    2456 Chinese nationals given the first dose of Sinopharm vaccine

    2456 Chinese nationals given the first dose of Sinopharm vaccine

    Image credits - Gene Gallin / Unsplash

    Hula hooping is the latest pandemic at-home workout

    India has not banned export of COVID-19 vaccine

    India has not banned export of COVID-19 vaccine

    Image credits - Pushpak Dsilva / Unsplash

    Chocolate makers have sweet-loving Indians in their sights

    Image credits - Hakan Nural / Unsplash

    Scientist behind coronavirus shot says next target is cancer

    Trending Tags

    • Golden Globes
    • Mr. Robot
    • MotoGP 2017
    • Climate Change
    • Flat Earth
  • Tech
    Image credits - Tim Bennett @timbennettcreative / Unsplash

    Facebook does not plan to notify half-billion users affected by data leak

    Image credits - Lukas Blazek / Unsplash

    Is Big Tech going off remote working?

    Facebook. Image credits - Solen Feyissa @solenfeyissa

    Here’s how to tell if your Facebook account was one of the half-billion that were breached

    Image credits - John123521 / Wikimedia

    LG Electronics says it will end production and sales of its loss-making smartphone division

    Facebook. Image credits - Solen Feyissa @solenfeyissa

    533 million Facebook users’ phone numbers and personal data have been leaked online

    Image credits - Mika Baumeister / Unsplash

    What­sApp font tricks that you should know

    Trending Tags

    • Sillicon Valley
    • Climate Change
    • Election Results
    • Flat Earth
    • Golden Globes
    • MotoGP 2017
    • Mr. Robot
  • Coronavirus
No Result
View All Result
NewsIn.Asia
No Result
View All Result
Home Around South Asia

Colombo most suited to be South Asia’s commercial hub: Port City official

Editor by Editor
March 30, 2017
in Around South Asia, Around The World, China, India, Sri Lanka, Top Story
Reading Time: 4min read
1 0
Share on WhatsApp

EXCLUSIVE

By P.K.Balachandran

Colombo, March 30 (newsin.asia): Sri Lankan capital Colombo is the most suitable to be South Asia’s commercial hub, says Liang Thow Ming, Chief Sales and Marketing Officer of the US$ 1.4 billion Colombo Port City project being executed by the China Harbor Engineering Company (CHEC) .

Speaking to this correspondent on Thursday, Liang said that Colombo is not only South Asia’s cleanest and the most livable city, it is also the capital of a country which has no quarrels with any of the nations in South Asia.

That makes Colombo an ideal place  to create and run a regional commercial hub, he added.

People from all parts of South Asia can come to Sri Lanka and do business here without issues relating to their nationality, Liang pointed out, in a veiled reference to problems between India and Pakistan which hinder free movement of goods, services and people between the two countries.

In fact, from the general acceptability point of view, Colombo could be the “Singapore of South Asia”, Liang added.

A Singapore national of Chinese origin, Liang said that the Colombo Port city  will be an international commercial and financial hub with its own legal system based on the British model and labor laws attuned to the needs of modern businesses. It will have investments from all parts of the world and not necessarily from China.

Serving the Region

However, the Port City will be primarily serving the South Asian region which has a combined market of 1.7 billion people, Liang said.

“Indians who want to  park funds abroad could do it in the Colombo Port City, rather than in Dubai or Mauritius, as Colombo is the nearest and also culturally compatible,” he noted.

Asked about India’s opposition to the project on security grounds, especially after the visit of Chinese submarines in 2014, Liang said that India has since dropped its opposition because Indian businessmen and government officials have realized that the Port City is nothing but a commercial venture in which Indians are welcome to invest.

Bird’s eye view of the early stages of the Colombo Port City project

According to Liang, it would cost a company about US$ 200 million to invest in land, buildings and business in the Colombo Port City. There are about 1000 top Indian developers, some of whom may be able to raise US$ 200 million, he said.

However, the question is whether it will be worthwhile for them to shift to Colombo from India or Dubai to Colombo, Liang said. According to the Chinese Ambassador in Sri Lanka, Yi Xianliang, four or five top Indian companies have expressed an interest in investing in the port city, but he would not name them.

Following the Sri Lankan Presidential election in January 2015,  in which the incumbent President, Mahinda Rajapaksa, who initiated the Port City project, was defeated, the new government stalled work on it for a few months to investigate some charges and also to  negotiate the terms.

But after the modification of the terms, work is  “going full steam ahead”, Liang said.

The Port City has just re-started reclamation work, but marketing of the project is also being done in right earnest simultaneously, he added. There has been no advertising but potential investors are being contacted and engaged. Liang himself had addressed a gathering of top Indian real estate developers at their convention in Shanghai and they were keen on knowing more about the Colombo project. He met the former Indian junior Minister of External Affairs, Shashi Thaoor, a strong advocate of cooperation between India and China which he encompasses in the concept of “Chindia”.

The Project

The Colombo Port City project envisages the reclamation of 269 hectares from the sea south of the Colombo harbor opposite Galle Face. Reclamation is expected to be completed in two or two a half years. In 2018, the eastern side will have been reclaimed. The reclaimed portion, divided into blocks, will have all modern infrastructural facilities so that the buyer or investor can just plug in start his operations, Liang said.

The mini city will have offices, 21,000 residential apartments, four sites for hotels,  parks,  a marina, and entertainment facilities. There will be no fancy attractions of the kind Dubai boasts of, but it will be a world class Smart City, Liang said.

Land reclamation is on at the Colombo Port City

Step by Step Watching the Bottom Line

The port city will not be built not all at once, but in phases stretching over 30 years, Liang said.

Eventually, there will be 71 plots with two or three being readied for sale every year. The plots will be sold to investors from Sri Lanka and overseas in stages as per a business plan. The Port City  authority will be watching the venture’s bottom line constantly, as it is essentially a business enterprise.

The Port City will be 20% less in size than the Marina Bay in Singapore, and is expected to have a fixed population of 80,000 and a floating one of 220,000.

Its financial laws will be based on the British model. It will have its own courts but with Sri Lankan judges. Labor laws too will be international in nature. According to Liang, stringent international labor laws will not be an issue as the Port City will be providing opportunities to Sri Lankans to work in an international environment at higher wages,  and that, at their very door step. As it is, enterprising Sri Lankans are seizing similar opportunities provided by countries in the Middle East and West.

Quashing propaganda that Chinese funded projects use mostly Chinese labor, Liang said that the Port City project currently employs 5000 people. The CHEC itself has 70 people, of whom 50 are Sri Lankans or of Sri Lankan origin. Others are from a variety of countries.

Relations with Sri Lankan Government

Since the Port City is a collaborative venture of the CHEC and the Sri Lankan government, the 269 hectares of reclaimed land will be divided between them.  The government will get 153 ha and the CHEC 116 ha on a 99 year lease. Both are expected to make money from the lands allotted to them.

The Port City will be dependent on the Sri Lankan authorities for power and water. In this context, Liang welcomed the development of the Western Province though the multi-billion dollar Megapolis project as it will vastly improve the Port City’s hinterland.

Challenges

However, the Port City project faces challenges as it aims to develop an autonomous business system within Sri Lanka.The company is studying current proposals to make it a Smart City and is in discussion with the government to strengthen and create stable economic policies which would set up a good environment for investors , Liang said.

(The featured image at the top shows Liang Thow Ming, Chief Sales and Marketing Officer of  the China Harbor Engineering Company’s Colombo Port City Project)

SendShare14TweetShareShare
Editor

Editor

Recommended Articles

  • All
  • Recommend
Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

Roshan Abeysundara to swim across Palk Strait from Talaimannar to Dhanushkodi and back

April 10, 2021
Disneyland. Image credits - Kon Karampelas / Unsplash

Sri Lanka will build South Asia’s first Disneyland

April 8, 2021
Image credits - Gene Gallin / Unsplash

Hula hooping is the latest pandemic at-home workout

April 6, 2021
The tragic life of Bollywood’s ethereal beauty

The tragic life of Bollywood’s ethereal beauty

April 4, 2021
Accused in the killing of Lankan tusker shouldn’t have been given bail: Counsel

Accused in the killing of Lankan tusker shouldn’t have been given bail: Counsel

April 4, 2021
Image credits - orstensimon / Pixabay

Will Sri Lanka face a shortage of vaccines for the second dose?

April 3, 2021

Advertorial

  • All
  • Advertorial
Visual and Textual Analysis for Images with Reverse Search Tools

Visual and Textual Analysis for Images with Reverse Search Tools

January 3, 2021

Popular Now

  • Disneyland. Image credits - Kon Karampelas / Unsplash

    Sri Lanka will build South Asia’s first Disneyland

    246 shares
    Share 98 Tweet 62
  • World body says contestants participating in international pageant must be married

    43 shares
    Share 17 Tweet 11
  • Singapore becomes a global cruise leader, for now

    34 shares
    Share 14 Tweet 9
  • Mrs. World Caroline Jurie arrested in Sri Lanka

    27 shares
    Share 11 Tweet 7
  • When beauty became ugly

    16 shares
    Share 6 Tweet 4
  • About Us
  • Advertisements
  • Privacy Policy
  • Contact

© 2020 NewsIn.Asia - Lovingly maintained by DigitalArc.

No Result
View All Result
  • Home
  • Around South Asia
    • Afghanistan
    • Bangladesh
    • Bhutan
    • China
    • India
    • Maldives
    • Myanmar
    • Nepal
    • Pakistan
    • Sri Lanka
  • Around The World
  • Breaking News
  • Business
    • Exchange
  • Climate Change
  • Governance
    • Crime
    • Diplomacy
    • Defense
    • Human Rights
    • Politics
    • Strategic Affairs
  • Lifestyle
    • Books
    • Entertainment
      • Arts
      • Cinema
      • Gaming
      • Music
      • Movie
      • Series
      • TV
    • Health
    • Fashion
    • Food
    • Travel
  • Culture
    • Ethnicity
    • Gender
  • Development news
  • Economy
  • Education
  • Environment
  • Coronavirus
  • History
  • National
  • Offbeat
    • Media
    • Music and arts across South Asia
  • Recommended
    • Headlines
    • Highlights
    • Top Picture
    • Top Story
  • Religion
  • Science
  • Sports
    • Football
    • Cricket
      • LPL
      • IPL
    • Tennis
    • Formula 1
    • NBA
  • Tech
    • Instagram
  • United Nations
  • Weather
  • World
    • Japan
    • Russia
    • United States

© 2020 NewsIn.Asia - Lovingly maintained by DigitalArc.

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In