Mr.Qi Zhenhong , Ambassador of the People’s Republic of China stated that the government of China intends on investing towards the development of Sri Lanka during the bilateral discussions held with the Speaker of Parliament Mahinda Yapa Abeywardane.

Accordingly, the Government of China is planning to formulate an international legal framework which would make the Port City of Colombo under construction a suitable platform for foreign investment.

The Ambassador further stated that it is intended to attract investors to invest in the Port City. The meeting was held at the Speaker’s official residence yesterday (15).

Ambassador of the People’s Republic of China also stated that the government of China hopes to build another tyre factory worth the investment of US $ 600 million in the area of Matugama similar to the tyre factory in Hambantota.

Furthermore, he stated that the government of China also plans to build an automobole assembling plant in Sri Lanka next year, which will result in a major impetus towards the development of the Sri Lankan economy.

The Chinese Ambassador also extended an invitation to the Hon. Speaker of the Sri Lankan Parliament Mahinda Yapa Abeywardane to pay an official visit to the Chinese Parliament.

The monetary assistance by the Government of China towards the development of the University of Ruhuna was presented to Vice Chancellor Prof Sujeewa Amarasena of the University. The Secretary General of Parliament Mr. Dammika Dasanayake was also present at the occasion. (Parliament)