Long-Anticipated Sinopec Investment Set to Break Ground in Sri Lanka by Year-End

COLOMBO (News 1st); Deputy Minister of Finance and Planning Dr. Anil Jayantha has confirmed that the long-anticipated Sinopec investment in Sri Lanka is nearing its final stages, with all major technical and practical hurdles now resolved.

Dr. Jayantha revealed that productive discussions with the Chinese Embassy and Sinopec representatives have paved the way for the project’s imminent launch.

“We are now at the final step. All technical bottlenecks have been cleared. We hope to demonstrate Sinopec’s presence on Sri Lankan soil before the end of this year,” he stated.

The Deputy Minister emphasized that the government, under its new mandate, is committed to transforming the economy through policy consistency, infrastructure development, and the creation of a level playing field for all investors.

He highlighted trade and investment promotion as a top priority, noting that the government is working to build investor confidence by ensuring transparency and fairness in economic engagement.

“We are clearing the path for investors. By the end of this year, we aim to present the Investor Protection Act to Parliament, reaffirming our commitment to non-discrimination and equal opportunity,” he added.

Dr. Jayantha stressed that economic growth cannot be achieved without robust investment and trade, and called for exponential growth within a defined timeframe. He also announced plans to establish a single-window investment facilitation system to streamline processes and reduce operational delays.