An investment of US$ 20 million is set to take forth towards a facility for the production of saline in Sri Lanka by mid 2015.
This venture has been taken up by a Chinese investor who will be part of an entourage of 132 businessmen and six government representatives from the Sichuan Province and will be visiting Sri Lanka for networking purposes.
The saline production venture will help cover the cost of importing saline units to fulfill the country’s medical saline consumption.
It was recorded that for the year 2010 alone, saline imports amounted to US$ five million and keeps increasing every year.
The business to business (BtoB) event is being organized in tandem by the China Council for the Promotion of International Trade Sichuan Council and the Sri Lanka China Trade and Investment Promotion Chamber (SLCPITC).
SLCPITC President, Nihal Aluvihare said that a sister-city agreement was signed merging the Chinese provinces of Chengdu and Sichuan with the city of Kandy for the purpose of seeing through prospective business activities.
“This alliance between the Chamber and the Chinese provinces, we have been successfully allocated 20 stalls on a three year rent free basis along with other concessions for Sri Lankan businessmen and entrepreneurs with the interest of setting up their establishments at the world’s largest international trade city in Chengdu. The Chengdu City International Trade City is a modernized trading and wholesale market and Sri Lankan businessmen will be able to register their own company in China as well as open and operate a bank account along with other connecting facilities.
With a capacity of running 3000 wholesale establishments at the Trade City, six Sri Lankan traders in areas such as gem and jewellery and black and organic tea have already been given the go-ahead to set up and market their ware.
An additional agreement with the North Chengdu International City for prospective business dealings in the areas of E-Commerce, tourism, tea, furniture, pharmaceuticals and textiles to name a few, was also signed.