Nevertheless, to reap sustainable benefits from BRI, the paper recommends that Sri Lanka should have a consistent policy framework comprising a supportive legal and regulatory structure, strong project management and transparent procurement procedure.
FIVE YEARS INTO BELT AND ROAD INITIATIVE (BRI): POTENTIAL ECONOMIC BENEFITS AND OPPORTUNITIES FOR SRI LANKA – BY DR. RANEE JAYAMAHA
This paper discusses the vision, scope and the goals of China’s BRI and potential economic benefits to wider Asia, especially to Sri Lanka. It argues that BRI will positively impact on Sri Lanka’s economic development through regional connectivity via ports, airports, roads, transmission towers etc.; increased foreign investments into the country; easy access to new export markets; exploration of maritime resources in the exclusive economic zone; and participation in the digital revolution in financial services. However, the downside risks of BRI are reflected in growing geo-political tensions that require openness and diplomacy by all stakeholders. China – Sri Lanka relations are based on long standing mutual trust, cooperation and friendship.