Sri Lanka's largest business community, the Ceylon Chamber of Commerce (CCC), on Tuesday expressed the appreciation for the steps taken to develop the Hambantota Port.
In a statement, the CCC said the reported scale and size of the investment is expected to generate meaningful foreign direct investments (FDIs) in port related activities, as well as businesses around the Hambantota port.
Sri Lanka and China last month signed an agreement to develop the port. The agreement was signed between China Merchants Port Holdings and the Sri Lanka Ports Authority.
Observing that international rating agencies had been quick to highlight the positive effects of the transaction from the Hambantota Port agreement, the CCC said industry representatives also noted the economic benefits arising from a growth in industrial activity.
The agreement would create more employment opportunities in the region and also provide sizable impetus to propel growth in the maritime related services and logistics sectors around the Port, it said.
"The Chamber now expects the implementation of the Agreement to be effected in a manner that would serve the best interests of our country," the CCC said.
"Sri Lanka needs to enhance its reputation as a business destination that has a credible and predictable investment regime."