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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Saudi Arabia commits US $ 300 million assistance to Sri Lanka

Saudi Arabia commits US $ 300 million assistance to Sri Lanka

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ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics

Saudi Arabia commits US $ 300 million assistance to Sri Lanka

September, 3, 2018


Saudi Arabia commits US $ 300 million assistance to Sri Lanka Saud-MMAP-md
Saudi Arabian government officials had recently pledged US $ 300 million worth of assistance to Sri Lanka, which will be disbursed to various areas in the country to be spent on water supply projects, agriculture sector, education and health facility development.
“We are happy to assist Sri Lanka and look forward to strengthen bilateral ties with Sri Lanka,” speaking at the inauguration of the Badulla-Chenkalldai Road Development project in Padiyatalawa on Sunday (2nd September) morning, the Saudi Arabian Ambassador in Sri Lanka Abdul Nazar Al Hardi told reporters adding that his government would provide assistance to the tune of US $ 300 million.
http://bizenglish.adaderana.lk/saudi-arabia-commits-us-300-million-assistance-to-sri-lanka/

DS Wijesinghe


Senior Manager - Equity Analytics
Senior Manager - Equity Analytics
$ 300 Million to us and $ 10 Bn to Maldives. They probably will complete this project before the Colombo Port City is completed because our Colombo Port City was halted by our current business unfriendly govt

Note :- When Saudi King was on a month long visit to Asia, Sri Lanka was not one of the destinations. 

Saudi Arabia To Invest $10bn In The Maldives


King of Saudi Arabia is currently on a month long investment tour to Asian countries and he is set to visit Maldives on 18th March. While addressing to an audience at Dharubaaruge the Maldives President Abdulla Yameen confirmed Saudi’s plan to invest $10 billion in Maldives and said it will put Maldives on the forefront of the world.


This was first time the president confirmed the size of investment in discussion.  
 


President also down played concern over sale of Maldives atoll which he said is not even a question. Maldivian law allows lease of islands for 99 years, permanent ownership requires additional laws to be passed by the parliament and the whole project to be approved by parliament. The ruling party currently holds a clear majority in the Maldives parliament.


Finest the Saudi investment in Faafu Atoll is about developing a mega city for the wealthy from all around the world who dreams of living in paradise. Be it education or health care the city will have some of the world's best facilities. Locals in support of Sauals to gain access to these facilities which otherwise would be too expensive in other countries. Detailed plans of the project has never been released to the public. Hence, it is uncertain if locals would get extra privileges to these facilities, but certainly it would open up more employment opportunities. The bill of Special Economic Zone sets free such investors from many regular laws.

During the king’s Asian tour he has already visited Malaysia and confirmed $7bn investment in the oil sector. He is currently in Indonesia, accompanied by a delegation of 1500 officials.



https://maldivesfinest.com/saudi-arabia-to-invest-10bn

ruwan326

ruwan326
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
@DS Wijesinghe wrote:$ 300 Million to us and $ 10 Bn to Maldives. They probably will complete this project before the Colombo Port City is completed because our Colombo Port City was halted by our current business unfriendly govt

Note :- When Saudi King was on a month long visit to Asia, Sri Lanka was not one of the destinations. 

Saudi Arabia To Invest $10bn In The Maldives


King of Saudi Arabia is currently on a month long investment tour to Asian countries and he is set to visit Maldives on 18th March. While addressing to an audience at Dharubaaruge the Maldives President Abdulla Yameen confirmed Saudi’s plan to invest $10 billion in Maldives and said it will put Maldives on the forefront of the world.


This was first time the president confirmed the size of investment in discussion.  
 


President also down played concern over sale of Maldives atoll which he said is not even a question. Maldivian law allows lease of islands for 99 years, permanent ownership requires additional laws to be passed by the parliament and the whole project to be approved by parliament. The ruling party currently holds a clear majority in the Maldives parliament.


Finest the Saudi investment in Faafu Atoll is about developing a mega city for the wealthy from all around the world who dreams of living in paradise. Be it education or health care the city will have some of the world's best facilities. Locals in support of Sauals to gain access to these facilities which otherwise would be too expensive in other countries. Detailed plans of the project has never been released to the public. Hence, it is uncertain if locals would get extra privileges to these facilities, but certainly it would open up more employment opportunities. The bill of Special Economic Zone sets free such investors from many regular laws.

During the king’s Asian tour he has already visited Malaysia and confirmed $7bn investment in the oil sector. He is currently in Indonesia, accompanied by a delegation of 1500 officials.



https://maldivesfinest.com/saudi-arabia-to-invest-10bn
Muslims only care about Muslims,

If they gave $10BN we still have to pay more tax to cover up the interest Wink

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