The Chinese sector (Division) functioning under the Investment Promotion Department of the BOI would be strengthened to facilitate investors of China who are now eager to invest in Sri Lanka, a spokesman of the BOI said.

A new head conversant in Chinese language is to be appointed to handle this division as many Chinese trade and investment delegations are expected to visit the island in the next few months; he said adding that Beijing’s SSG International Holding Group delegation visited the country last week.

He noted that China was impressed on the Sri Lanka’s development plans and its drive for Foreign Direct Investments (FDIs) and had responded positively following discussions with Chinese officials during Prime Minister Ranil Wickremesinghe’s recent visit to Beijing.

There are many new Chinese FDI projects on the pipeline, including the Economic Zone, ship repair project and airport development in Hambantota as well as new infrastructure projects such as the extension of the Southern Highway, Kandy and Ratnapura Expressways, and portable and waste water management schemes.

The government also explores ways and means of mobilising Exim Bank and China Development Bank investment for new projects, as well as strengthening cash flow and liability management of ongoing projects.

These new developments in Sino-Lanka investment and trade relations along with a record breaking surge of Chinese tourists have prompted the BOI to strengthen the Chinese sector promotion division, he said.

The government is also planning to promote Sri Lanka as a tourist destination for the 120 million Chinese who now travel abroad and there was a considerable potential existed to build on the already rapidly increasing number of Chinese visiting Sri Lanka.