Forbes listed young billionaire of mainland China, Cai Xiaoru, gave thumbs up for Sri Lanka and said that Sri Lanka remains a good destination for investment. He said that Sri Lanka as an investment destination is more open and friendly towards investors.
He also said that with the launch of China’s “one belt, one road” initiative Sri Lanka has even better chances to attract more FDI. “This is because of Sri Lanka’s unique geographical location.”
Xiaoru said that there is rapid development visible in Sri Lanka and a lot of business opportunities emerging in the country and he is looking at investing more in Sri Lanka.
“I am also keen in the leisure sector, real estate, energy and also transport and logistics,” he said. adding that he is keen to look at unexplored areas with scenic beauty in Sri Lanka to build hotels.
Xiaoru, the Chairman of Shenzen Listed company Tatwah Smartech during his visit to Sri Lanka signed a partnership agreement and committed to invest USD 30 million into SupremeSAT - Sri Lankan satellite company.
“Tatwah is evolving as a globally strong player in the satellite communications industry.
I am very pleased to see the remarkable growth SupremeSAT has achieved within a very short span of time competing against many strong global brands. I am confident that this partnership will bring more value of Tatwah’s resources, and redefine the capabilities of SupremeSAT to further grow in all areas of its operations,” he noted.
Xiaoru said he had also met President Maithripala Sirisena during his visit to Sri Lanka. Xiaoru is one of the youngest Chinese billionaires. He is 38 years old and is ranked by Forbes as the seventh youngest billionaire of China.
He is the owner and Chairman of Shenzhenlisted public company Tatwah Smartech Co. Ltd which is the world’s largest manufacturer of RFID tags and owns a mega manufacturing facility employing thousands of people in Zhongshan, China.