Logo of Phnom Penh Post newspaper Phnom Penh Post - Indonesia to invest in Colombo Financial City




Indonesia to invest in Colombo Financial City

Content image - Phnom Penh Post
An artist rendering shows plans for the Colombo Financial City. the island

Indonesia to invest in Colombo Financial City

(The Island (Indonesia)/ANN): Indonesia’s Vice Foreign Minister AM Fachir says he would not rule out investments from businessmen of his country in the Colombo Financial City, being built with Chinese assistance.

Asked by the Sunday Island in Jakarta last week, if China’s invitation to the international community to take advantage of the business opportunities that would arise once construction of the Financial City, earlier referred to as the Colombo Port City, was completed, the Vice Minister asked, “why not?”

“Investors make informed decisions and would not hesitate to tap the potential that Sri Lanka had on offer he added when told that China had extended an invitation to Indian entrepreneurs too to participate in the Sirisena-Wickremesinghe government’s “Vision 2025” Program.

Fachir revealed that Indonesia would seek foreign expertise to develop its own growing number of ports.

Asked if he had any specific country in mind, he said that they would accept assistance from any nation that had the knowhow.

The Vice Minister agreed that China had expertise in port development, but said that as companies from many countries were involved in Indonesia’s infrastructure development, all choices would be explored.

Responding to a question , he stressed that the Non Aligned Movement (NAM) was relevant in the current global context despite the super powers shuffling their alliances and new friendships being forged.

“NAM is the mandate of our founding fathers for independence and a world order based on freedom, development and global peace,” Fachir said.

He pointed out that both Indonesia and Sri Lanka were members of NAM which was a political movement that could correct imbalance and injustices.

Capacity building and solidarity was important, the Vice Minister emphasized.

“The cold war may be over, but we still see injustice and inequality in the world.”

Outlining Indonesia’s four priorities in diplomacy, he explained that they were border diplomacy , economic diplomacy, protecting its natural resources and contributing to the well being of the global community.

Founded in 1961 in Yugoslavia, NAM comprises 120 members and 17 countries with observer status.

MOST VIEWED

  • Hun Sen says Kingdom not a 'satellite country'

    Prime Minister Hun Sen said Cambodia had sent diplomatic notes to various embassies demonstrating its stance and clarifying allegations that the Kingdom is a satellite country of China which will allow it exclusive access to the Ream Naval Base in Preah Sihanouk province. The response

  • Vast Prince Manor fun park opens to much fanfare in Kandal

    Chinese-owned Prince Culture and Development Co Ltd officially launched the $85 million Prince Manor entertainment centre in Kandal province on Wednesday. Prince Manor is located along National Road 1, 20km from the centre of Phnom Penh. It is the first major theme park project in Cambodia and

  • Angkor provides ‘valuable’ water storage

    The Apsara National Authority (ANA) has stored millions of cubic metres of water at reservoirs in the Angkor area after Cambodia experienced a series of rainstorms over the last few days. The storing of the water, besides serving temple conservation, will also be used to

  • Floods prompt evacuations in Kampong Speu

    Rain-induced floods and water flowing from Kampong Speu province have submerged the houses of 1,527 families living close to the Prek Thnot River in Spean Thma, Tien, Kong Noy and Roluos communes in Phnom Penh’s Dangkor district, according to data from local authorities. Spean Thma

  • Serving coffee with a side of robots

    The eye-catching glass building surrounded by greenery at the intersection of Streets 371 and 2002 in Phnom Penh’s Sen Sok district is more than just another coffee shop where you can while away a few hours. UrHobby House cafe is filled with robots and characters from

  • Cintri strike ends, workers’ contracts to be terminated

    CINTRI (Cambodia) Ltd rubbish collectors who have been on strike for the past 13 days agreed to return to work starting Wednesday evening after the company agreed to terminate their contracts at the end of January next year and provide seniority payments and other benefits to