Hambantota is not going to be a Chinese colony: Minister Yapa

Says no private property will be acquired and handed over to foreigner investors

Text and pix 

by P. D. de Silva

Dismissing speculation by Opposition politicians on Hambantota becoming a ‘Chinese colony’, Deputy Finance Minister yesterday reiterated that the Government is “only to establish investment zones”.  

“Hambantota is not going to be a Chinese colony. It is only an investment zone and no private property will be acquired and handed over to foreign investors,” affirmed State Minister for Finance Lakshman Yapa Abeywardena.

Minister for Finance Lakshman Yapa Abeywardena

The Minister made this statement on being asked if Hambantota was being turned into a Chinese colony and if the Government was relocating Sri Lankan landowners in a bid to provide 15,000 acres of land to Chinese investors.

“No one will be affected. Initially, we will be providing 5000 acres of bare land to the investors. We do not plan to acquire private property for this purpose. The land will be given on a 99-year lease to companies that will establish new industries in Sri Lanka. The land allocated for the Shangri-La hotel was not leased but sold outright. Even in the port city, 20 acres of land will be given outright to the Chinese developers while the balance will be on 99-year lease. Certain people are spreading stories that land owned by Sri Lankans in Hambantota will be acquired and handed over to the Chinese investors.” he reiterated.

“Sri Lanka will only provide the land, these industries will be established with 100% foreign investment. They will develop the land. Even Vietnam and some other countries are doing the same thing. President Maithripala Sirisena plans to make allocations on par with the amount of investment. As an example, if someone invests $2 million, 100 acres of land will be leased to him. No residential land will be allocated to these investors, it will be only be state land that will be given,” the Minister said.