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Malaysian investors to bid for Northern Expressway: Suggest to renew bilateral trade
27 Feb, 2015 09:01:35
Feb 27, 2015 (LBO) – Sri Lanka northern expressway which links the Island’s capital Colombo to the northern Jaffna peninsula to be bided by Malaysian investors, a statement said.
“We are bidding for Northern Highway on BOT (build-operate-transfer) basis,” Dato' Seri S. Samy Vellu, Malaysia’s Special Envoy of Infrastructure for India and South Asia with Ministerial rank attached to the Prime Minister’s Office was quoted saying on a visit to Colombo leading a Malaysian business team.

“We want to do a good job if we get it.”

He said Malaysia would like to partner with Sri Lanka on Government-to-Government (G2G) projects, having done such projects in Bangladesh and India.

“We can jointly identify new industrial sectors and create industrial parks in Sri Lanka with our partnership,” Vellu said.

“The 12 national Industrial Parks we created in Malaysia are also equipped with housing and social infrastructure for the people employed in the industrial parks including housing, sanitation and water, one reason that our Parks are successful,” “We intend to introduce the same model to Sri Lanka as well,”

“The industrial layout needs to describe not only the types of industries to be set up but the social and community infrastructure as well. This is how we started industrialising the Malaysian economy.”

Among the well-known Malaysian investments in Sri Lanka are Dialog Axiata, Merbok Mdf Lanka, Lion Brewery (Ceylon), Hemas Hospitals, Dankotuwa Porcelain, Sunshine Ventures, and APIIT Lanka Ltd, the statement said.

The statement said that Malaysia ranks first among countries that have invested to-date in Sri Lanka through BOI and realized total foreign direct investment from Malaysian projects exceeds 1.28 billion US dollars by third quarter of 2014.

“It is time that we also renew bilateral trade, apart from the strong investment bonds that we already have. Of course, South Asia is a massive zone of people and Sri Lanka is lucky to sit so closely to this huge market.” Vellu was quoted saying.

Sri Lanka’s bilateral trade with Malaysia was up 31 percent to 757.2 million dollars in 2014 from 2013’s 577.66 million dollars.

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