Investment projects in the coastal city of Colombo, Sri Lanka have created enormous social and economic imbalances in many respects, changing the landscape of the city geographically and surrounding it from all sides, to serve 1% of the mega-rich and consider it a forbidden city. The former COPE chair and Janatha Vimukthi Peramuna MP, Sunil Handunneththi, stated that the government had signed an agreement to hand over the southern part of the coastal city to investors without announcing or showing a document on the agreement, which raises doubts about the possibility of suspicions of corruption. Observers believe that the coastal city project if it succeeds, will not result in a real boost to the economy, but will only benefit the financial sector and the financial services sector, and this indirect return will be at the expense of strengthening Sri Lanka’s image as a partner to China, which will make Sri Lanka more vulnerable to the contradictions of regional and global competition, and it is a costly risk for Sri Lanka and its people.
Observers: investments in Colombo put Sri Lanka’s interests at stake
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