Honeywell Corporation, a Fortune 100 diversified technology and manufacturing conglomerate is to send a team next month to discuss investment opportunities in Sri Lanka, a former Deputy Minister said.
Former Deputy Minister of Investment Promotion Eran Wickramaratne told LBO, the Corporation initially proposed to send a team here on 17 August 2015.
Chairman and CEO of American multinational Honeywell Corporation; Dave Cote visited Sri Lanka recently with his private jet to understand the business climate in Sri Lanka.
“Mr. Cote has sent me a letter with his hand writing saying that he has decided to explore opportunities in Sri Lanka,” Wickramaratne told LBO.
“Three days later an email received saying that they are sending a team here on August 17. But I said them to postpone it by 10 days since we are having the general election,”
“They seem to be ready to initiate manufacturing high tech protective clothing such as safety outfits and astronaut costumes in Sri Lanka.” Wickramaratne further said.
The Honeywell Corporation serves customers worldwide with aerospace products and services; control technologies for buildings, homes and industry; turbo chargers; and performance materials.
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Our medical camp today was a success. We had the opportunity to serve over 500 people. A sincere thank you to all those that participated in making this a reality including the Doctors, Optometrists, Pharmacists and all the other volunteers that gave of their time and resources to help those in need.
When it comes to infrastructure like the road projects, our intention is to complete all the road projects that had been commenced by the previous government. We do not think that we would have made some of the same decisions that they made – they have made some poor decisions in terms of economic and financial returns. Our priorities would have been different. However as a government we are committed to honoring the contracts that have been undertaken. But if we think there has been over expenditure and over estimation, those issues are being taken for discussion – and we are trying our best to see what concessions we could get out of the existing agreements.
Q: There is a general feeling that most of the development projects have come to a standstill. How do you respond to that? What are the development projects the new government has initiated?
A: We are a new government and a temporary government. It takes time to initiate projects – we have focused on continuing some of the projects that have been started. For example we are having discussions about the Shangri-La hotel project in Colombo with the management to smooth out their investment. It is also a mixed development where the housing project is already completed and the condos are being sold at the moment. The ITC hotel project is also going ahead. John Keels is also doing a mix development including a convention centre which continues. Our focus has been to help investors to implement the decisions they have already taken. Since we are a temporary government, it makes more sense to make sure those projects continue.