Sri Lanka’s construction sector is increasingly played by foreign investments (FDI), rather than locally generated funds. The main reason: The sector’s annual output value is now totalling to a huge $3 Billion without even counting values of such mega projects as the Colombo Port City of Hambantota Port related constructions.
“Sri Lankan construction sector has become increasingly responsive to our FDI flows,” said the Minister of Industry and Commerce Rishad Bathiudeen yesterday, June 29 in Colombo. Minister Bathiudeen was addressing the launch of seventh construction industry exhibition, ‘Construction Expo 2018’ at BMICH.
Reportedly Sri Lanka’s premier Construction exhibition bringing together both local, international suppliers and service organizations in the building, construction, engineering and architecture industries, it’s a collaborative efforts of Lanka Exhibition and Conference Services (Pvt) Ltd. and Ceylon Institute of Builders (CIOB).
‘Green building’ is a major theme at this year’s expo. Over 240 local & international vendors, including 20 Indian companies by Export Promotion Council of India (at India Pavilion) and 30 Chinese firms in the Chinese pavilion (mostly from Liaoning Province- China’s industrial and steel province) are displaying a wide spectrum of construction products, services and information for the local construction sector.
A China Liaoning – Sri Lanka Business Forum was also held on the sidelines of this expo opening at BMICH. Liaoning Province Commerce Department Section Chief Qyu Wanliang addressing the Forum said that Sri Lanka is an important stopover of China’s One Belt One Road (OBOR) and an important trade partner of China.