Sri Lankan government is taking efforts to upgrade its port infrastructure and as part of this it is investing
$2.5 million on harbour in the south of the country and is executing an expansion project for the Colombo port.
The government, which aims to promote the country as a “port hub” borrowed considerably to achieve this goal, and it is also wooing international investors to participate in the port projects.
The government also organised an international conference recently to attract investment and showcase the country as a port hub.
But the country is learnt to have attracted only $1.3 billion in Foreign Direct Investment (FDI) during 2012. Sri Lanka is seeing a good influx of investment from the high growth economies.
The government committed $700 million to link ports in the south and eastern regions of the country, reports indicate. Sri Lanka hopes to become a mid-way hub between the Middle East and Singapore by capitalizing on its geographical location, which will also spur economic growth.
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