ECONOMYNEXT – The Chairman of Beijing’s state-owned construction firm China Harbour Engineering Company (CHEC) met President Anura Kumara Dissanayake on Saturday (13) and expressed confidence on investing in the Indian Ocean island nation, the President’s Media Division (PMD) said.
Bai Yinzhan and a delegation from CHEC met the President at the Presidential Secretariat.
“During the meeting, Mr Bai Yinzhan stated that President Dissanayake’s “direct and visionary leadership” had greatly enhanced the company’s confidence in investing in Sri Lanka,” PMD said in a statement.
“Expressing his appreciation for the incentives granted to the Port City Colombo Special Economic Zone, the CHEC Chairman also commended the economic stability that has been achieved in Sri Lanka under the leadership of President Dissanayake,” it said.
The meeting comes amid mounting pressure on President Dissanayake’s government for its failure to boost foreign direct investments and economic growth.
It also comes amid a persistent delay in transforming the Colombo Port City into a thriving global financial hub, despite its initial land reclamation being completed nearly a decade ago.
This delay stems from a volatile mix of legislative inertia, geopolitical friction, and macroeconomic crises.
Originally conceptualized as a multi-billion-dollar game-changer for South Asia, the project languished for years in a regulatory vacuum as successive governments struggled to finalize the overarching legal architecture required to govern a semi-autonomous jurisdiction amid pressure from countries like India and the United States.
A dedicated single-window administrative framework was established only after the passage of the Colombo Port City Economic Commission Act in 2021, though the rollout of essential, granular regulations such as offshore banking licenses, tax exemption bylaws, and international arbitration guidelines faced prolonged bureaucratic delays.
The PMD stated that the President emphasized that Foreign Direct Investment (FDI) is a vital component of the country’s economic growth and noted that the Government remains fully committed to providing all necessary facilities and support to encourage investment.
“President Dissanayake further stated that the Government has achieved a degree of policy stability through the agreements reached with the International Monetary Fund (IMF) and is working to create an increasingly investor-friendly environment based on that stability.”
“He reaffirmed the Government’s commitment to extending the highest possible level of support to investments that contribute positively to the country’s development and prosperity.”
The President also noted that the Government’s objective is to develop the Port City Colombo area into a modern and dynamic economic zone capable of attracting substantial international investment, PMD said.
The domestic hesitation for the Port City project was heavily compounded by intense geopolitical scrutiny from regional powers, particularly India and the United States, who raised persistent maritime security concerns over the heavily Chinese-funded project, making Western and regional multi-nationals wary of moving in.
Ultimately, the blow to early investor momentum came with Sri Lanka’s catastrophic 2022 macroeconomic collapse and historic sovereign debt default.
The resulting foreign exchange crisis, hyperinflation, and protracted IMF-mandated debt restructuring effectively paralyzed FDI, as global capital markets hesitated to commit billions to a luxury financial enclave tethered to a bankrupt domestic economy.
During the conference, elections were conducted to appoint members to the Central Committee, Executive Committee, and other key administrative positions within the party.
The conference also featured the presentation of the Secretary’s Report, Treasurer’s Report, and the Leader’s Address. The Deputy Leader formally released the 2026 Conference Declaration on behalf of the party.