• Last Update 2021-10-17 14:40:00

HIP signs MOU with Chinese firm, possible setting up of vehicle assembly plant

Business

 

The Hambantota International Port Group (HIPG) signed a Memorandum of Understanding (MoU) with Xiamen King Long United Automotive Industry Co., Ltd (King Long) in Fujian China, last week leading to the possible setting up of a vehicle assembly plant. This is a direct result of the investment promotion in Fujian, led by the Sri Lankan Ambassador in China Dr. Palitha Kohona and HIPG’s investment promotion team headed by Justin Zhang, General Manager, Port Investment Services, HIPG said in a media release.  

 

Established in 1988, Xiamen King Long United Automotive Industry Co., Ltd., manufactures large and medium sized buses, coaches and vans. With three large manufacturing bases, King Long’s products have been exported to over 140 countries and regions worldwide and is ranked among the top 10 automobile brands in China. Vice President of King Long Motor Group, Zhang Bin said, “we can fully take this good opportunity to further discuss the possibility regarding a local assembly factory in HIPG industrial park. With the Hambantota Port being so strategically located, we would be able to reach newer markets in South East Asia”.

 

Mr. Johnson Liu, Chief Representative of China Merchants Group in Sri Lanka and CEO of HIPG said the collaboration with the Sri Lankan Embassy in China and the efforts by Ambassador Palitha Kohona is an important link in bringing investment to Sri Lanka. We are exploring many other avenues in promoting investment and our investment promotion team is working very well with the Sri Lankan Embassy in China. We believe there is great synergy to be achieved between China and Sri Lanka trade.  The Hambantota Industrial Park is being promoted globally and it is our goal to have a vibrant international investor community operating within the zone,” he said.

 

The signing of the MoU took place at the King Long offices in Xiamen city, with the HIPG team and the Sri Lankan Ambassador also attending. 

 

Signing of the MOU- Zhang Bin- Vice President of King Long Motor Group, Zheng Xiaohu- Special Assistant to the President Xiamen King Long, Justin Zhan- General Manager Port Investment Services HIPG and Dr. Palitha Kohona Sri Lanka's Ambassador to China, in Beijing.

 

 

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