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Sri Lanka envisions further growth in 2020, hopes for more Chinese investment

Xinhua - The Sri Lankan government's aim to kickstart its economy in 2020 will be eased with the fruition of major infrastructure projects, Ajith Nivard Cabraal, senior advisor on economic affairs to Prime Minister Mahinda Rajapaksa, said here Thursday.

In an interview with Xinhua, Cabraal, also a former Sri Lankan central bank governor, said that 2020 will be a year of opportunity for the country as well as domestic and international investors as many long-gestating infrastructure projects will be nearing completion.

"We have a great opportunity because our transport and telecommunications infrastructure are at a very high level. Our workers are well educated and our business laws are up to international standards," Cabraal said.

"I think the stage is set for a wave of growth in Sri Lanka and we are excited for investors to make use of this opportunity," he added.

Cabraal said that formulating the legislative framework for investment in Port City Colombo, whose 269 hectares of land reclaimed from the sea was gazetted as part of the District of Colombo in late 2019, would be a vital policy priority this year.

He added that a cabinet-approved working committee appointed to review and accelerate the joint-venture between China Harbor Engineering Corporation and Sri Lanka Ports Authority has been instructed to deliver results as soon as possible to provide clarity for investors.