Ceylon Chamber lauds govt. for H’tota port deal

„Urges to ensure no mixed messages come out from govt. „Need to create credible investment regime stressed

While lauding the government for the steps taken to develop the Hambantota port as a public private partnership (PPP), Ceylon Chamber of Commerce (CCC) yesterday in a statement urged the government

to ensure that the principle of collective responsibility is respected to inspire confidence in its decision making process.

The CCC statement made clear references to a recent statement by the Justice Minister Wijeyadasa Rajapakshe—although it was not specifically mentioned—who said the leasing of Hambantota port to the Chinese was wrong and he would work towards regaining the ownership of the port on behalf of the people.

“While recognizing the circumstances in which this PPP deal was required to be finalized, the chamber urges the government to ensure that the principle of collective responsibility is respected, so as to inspire confidence in the final decision taken. Sri Lanka needs to enhance its reputation as a business destination that has a credible and predictable investment regime. This imperative is challenged when seemingly conflicting sentiments are expressed by responsible government sources,” CCC statement said.

Meanwhile, CCC said the Hambantota port PPP is an important step towards the goal of position Sri Lanka as a fully service maritime hub nation.

“In addition to the much-needed boost to the country’s foreign reserves, the reported scale and size of the investment is expected to generate meaningful FDI in port-related activities, as well as businesses around the port.”

CCC expects the implementation of the port agreement to be effected in a manner that would serve the best interests of our country.

Later this month, the CCC said it is convening a seminar for its members on the subject of the Hambantota Port development, with key officials.

The seminar will provide an opportunity to hear more details and seek clarifications on the obligations assumed under the agreement and the plans for implementation.

Since last year, CCC has been continuously lobbying to fast-track the development of the East Container Terminal (ECT) and the development of an e-hub for trade facilitation.