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Ports Minister vows to go ahead with Colombo Port City project

Colombo Intl. Maritime Conference to address growing regional trade potential: JOC.com - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
JOC.com Executive Editor to speak in Colombo for CIMC 2015 - See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf
Over 25 internationally renowned speakers will address the Colombo International Maritime Conference (CIMC) 2015. - See more at: http://www.dailynews.lk/?q=business/colombo-international-maritime-conference-cimc-launched#sthash.fgrP45YQ.dpuf
Colombo International Maritime Conference (CIMC) launched - See more at: http://www.dailynews.lk/?q=business/colombo-international-maritime-conference-cimc-launched#sthash.fgrP45YQ.dpuf
Colombo International Maritime Conference (CIMC) launched - See more at: http://www.dailynews.lk/?q=business/colombo-international-maritime-conference-cimc-launched#sthash.fgrP45YQ.dpuf
Colombo International Maritime Conference (CIMC) launched - See more at: http://www.dailynews.lk/?q=business/colombo-international-maritime-conference-cimc-launched#sthash.fgrP45YQ.dpuf

The government would not abandon USD 1.4 billion Colombo Port City project though its work had currently been suspended owing to some issues, Ports and Shipping Minister Arjuna Ranatunga told Parliament yesterday.

He said that there were certain issues to be addressed and remedied first before resuming the work on the Colombo Port City project. "One such issue is sea erosion in Wattala and Mount Lavinia areas expected to be caused by this project. There are around 50 investors willing to invest in this. We won’t be swayed by money to permit the project to go ahead regardless of its ill-effects. But, we will certainly not stop the project," the Minister said.

Participating in a debate on Regulations under the Licensing of Shipping Agents Act, the minister said the government was giving priority to national interests rather than attracting funds to the country.

UPFA MP Bandula Gunawardena: When there were war crimes charges against Sri Lanka the US, India and the UK were not with us. Only China and Russia were supporting us. Now, the present government has stopped all Chinese-funded projects. Is it the way this country shows its gratitude?

Minister Ranatunga: We have not stopped Chinese funded projects. Some projects have been suspended owing to some issues which are to be sorted out soon.

MP Gunawardena: The government should attract foreign investments as much as possible. But, now the foreign investors are reluctant to come here.

Kandy District MP A. M. Hisbullah: Tourists are not coming to this country today. Development projects have been suspended. International community is wary of investing in this country. We demand the government to continue the Port City Project.

Minister Ranatunga: We will not stop the project. It will be resumed once problems related to it are sorted out.

A total of 90% of the world’s trade is moved through shipping and is considered as the wheels of global trade. It helps the global economy propel and develop new markets to create wealth among nations.
In this context, Sri Lanka known to be a historical maritime nation is poised to play a major role in the coming decades to service the Indian Subcontinent and Asia as a mega transhipment hub.


Post-conflict Sri Lanka is a great opportunity for global investors to establish Indian Subcontinent’s shipping and logistics hub as the country amalgamates the regional ports and connects regional trade through the main east-west shipping route to the rest of the world. All predictions are that Indian led growth will see many shipping and logistics opportunities in the Indian Subcontinent.
Sri Lankan ports will be a catalyst and could work with synergies with regional ports to enhance efficient shipping solutions to provide competitive and speedy market needs that would help global trade. Since liberalising the economy in 1977 and post conflict Sri Lanka has invested steadily in its maritime infrastructure and is known to be the most liberalised country in South Asia. Colombo is the only regional port as at now that offers facilities for current generation (EEE) mega ships.
However the country has been slow in its marketing and promotional efforts to showcase its advantages to the world. The Colombo International Maritime Conference (CIMC) 2015 is the first effort in this regard to position the country’s shipping, logistics and maritime sector. The event is supported by the Government of Sri Lanka, private and public sector institutions and associations along with international and local chambers and many international organisations and institutions related to the industry.
The conference will be addressed by international, regional and local speakers who are representatives of major international institutions and business entities related to the shipping industry. The conference organisers would like to carry the message of Sri Lanka’s and the region’s opportunities in the maritime sector to the world. 


The International Maritime Organisation (IMO) which is the key body of the UN related to the maritime sector has specially endorsed this Colombo conference through a message from its Secretary General Koji Sekimizu. 
Importantly 2015 the IMO theme is maritime education and training which coincides with the UN changing from millennium development goals to sustainable development goals to ensure a better planet for its people. In this regard Sri Lanka will play a significant and an important role in the maritime map of the world in the years to come and the sector will help elevate the standards of living in Sri Lankan people and the Indian Subcontinent.
The conference will be held from 24-26 September in Colombo, Sri Lanka. More information can be found on website www.cimc2015.com.

- See more at: http://www.ft.lk/article/437281/Colombo-Intl--Maritime-Conference-to-address-growing-regional-trade-potential--JOC-com#sthash.iuG5vsjo.dpuf

(The Island - 27062015)

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