(MENAFN – Colombo Gazette) Prime Minister Mahinda Rajapaksa said while lockdowns and health precautions can be difficult for everyone, it is sometimes necessary to keep people safe.
The Prime Minister expressed this view at a discussion with Swiss Ambassador to Sri Lanka Dominik Furgler today.
The Prime Minister and the Swiss Ambassador discussed a number of areas for further cooperation between the two countries, including investment, exports, tourism and fighting the COVID-19 pandemic.
The Ambassador praised the way the Government has responded to the Coronavirus outbreak by issuing clear rules and enforcing them.
“I admire the way you have handled COVID,” said Ambassador Furgler. “I feel safer this way.”
To contribute to the Government’s efforts to contain the outbreak, the Swiss Government is providing assistance to Sri Lanka with equipment that will enable faster PCR tests at airports. It is also part of a collaboration to try to revive tourism to Sri Lanka once the situation improves. To that end, the Swiss Government has also provided technical assistance to the Sri Lanka Institute of Tourism and Hotel Management to improve infrastructure, provide training and develop curricula.
The two delegations also discussed investment and exports. With economic development a priority for the Government, the Ambassador said he would work to bring in more Swiss investment.
Switzerland is currently the 8th largest investor in Sri Lanka. With regard to exports, the delegates discussed ways in which Sri Lanka could further diversify the range of products it exports to Switzerland in order to get greater benefit from the Swiss GSP + facility.
Currently, Sri Lanka’s main exports to Switzerland include apparel, black tea, seafood, and gems and jewelery. (Colombo Gazette)
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China is a great opportunity for business. Photo / Getty Images
Doing business in China can be a difficult and controversial proposition for companies in many countries. Yet even with allegations of intellectual property theft, forced partnerships, and strict restrictions on doing business, China continues to attract foreign capital. Why would businesses want to invest in China when there are so many other “business-friendly” countries and financial markets that support foreign investment?
In 2001, after becoming a member World Trade Organization, China pledged to open up its banking, telecommunications and electronic payment processing sectors. But action in this area has already been taken absent or, at best, halfhearted. China’s telecommunications industry, for example, remains under government control, and the government owns it prohibited Facebook and Google offer their services in China.
What’s in it for investors
Doing Business 2020, a World Bank publication, rating China – in terms of credit availability and ease and size of tax payments – 80th and 105th, respectively, out of 190 countries in the world. It uses 10 other indicators, such as protections offered to minority investors, registering property and enforcing contracts, China rating 31st out of 190 countries in the world for ease of doing business as a whole. In contrast, the US was ranked 6th out of 190, according to the same report.
Besides, doing business in China can risky politically. Negotiations with the Communist-led government can be difficult; it has a political system with a reputation lack of transparency and intolerance for dissent. The nation has important rule regarding capital inflows and outflows which are subject to change without public notification. Corruption is rampant in China, to the detriment of foreign investors such as the United States.
Despite being relatively business-unfriendly, if the world’s 31st country can attract large amounts of foreign investment, surely the world’s No.1 country is sure to do as well as China, if not better. But New Zealand, ranked first in the world for its business-friendly climate, is nowhere near China in terms of foreign investment.
On two metrics – credit availability, which measures how easy it is to get credit; and tax payments, which measures the frankness and size of tax payments made to the country where the business is conducted – New Zealand ranks 1 and 9 In the world. And for ease of doing business as a whole, in contrast to 31st in China, New Zealand ranks first in the world.
Despite that honor, in 2018 and 2019 New Zealand attracted only $ 1.95 billion and $ 5.43 billion, respectively, in foreign investment. In other words, in 2018 and 2019, China attracted 71 times more and 26 times more foreign investment than New Zealand, even though New Zealand is considered a stable democracy with lower political risks than other forms of government and government. the most corrupt country in the world. What explains the huge differences in foreign investment?
Simple math for making a profit
That national market size – or scale – is critical for business. The more consumers a market has, the more products it has the potential to sell. In 2019, China’s population has almost reached 1.4 billion, compared to New Zealand’s population of approx 4.8 million. In addition, if measured by gross domestic product, China’s economy is second largest in the world, compared to the New Zealand economy, which is rating 51. Whether the problem is seen in terms of the number of consumers or the total size of the “economic pie” that is GDP, China’s economy is overshadowing the economy of New Zealand.
This large difference in size or scale is important. Even though China is a significantly less friendly place to do business than New Zealand, it still makes sense for American and other multinational companies to invest in China.
From a financial gain perspective, consider the advantages of companies investing in China. That markup is the difference between the price the company charges for a product and the cost of producing an additional unit of the product. The advantages, then, are simply markup multiplied by the number of products that can be sold. The bigger the market, the more products that can be sold. More sales means more profit. This explains why companies around the world are prepared to tolerate it dubious Chinese business practices and still investing in China.
One example of doing business in China, despite many obstacles, comes from Hollywood. Disney produced “Mulan, “a $ 200 million live-action film that took more than five years to produce. Disney shot most of the film in New Zealand with the aim of releasing it in China, primarily to gain access to that vast market and to maximize profits Disney bowed. on many Chinese demands to ensure that “Mulan” can be released in China without objection from Chinese officials.
Disney’s relationship and concessions with China are examples of why so many foreign investors continue to pursue business in China – profit. Despite institutional restrictions on investment, with access to more than 1.3 billion people, many of whom are potential consumers, and a growing GDP, China is a global market opportunity that multinational companies around the world continue to exploit.
PESHAWAR: Chief Minister Khyber Pakhtunkhwa Mahmood Khan said he would order the hanging of people who raped and killed children and it would send a powerful message to criminals and serve as a deterrent to other offenders, but knowing that the law must take it. because of course, he couldn’t. The chief minister was speaking with The News recently.
Prime Minister Imran Khan has proposed chemical castration of rapists after the gruesome Motorway incident in which a woman was raped in front of her children in Punjab and following other cases of raping and murdering children. Some of his ministers also want public executions of these offenders, but they also recognize that this move will have an international impact and bring Pakistan under unnecessary scrutiny.
Acknowledging that a number of incidents of rape and child murder had been reported in Khyber Pakhtunkhwa in recent months, the chief minister said he had tasked the chief secretary and inspector general of police to come up with a plan to take action to tackle the crime. towards children.
“We need to protect our children and enforce laws to strengthen penalties for rapists and other criminals,” he argued. Chief Minister Mahmood Khan said some of these crimes against children occurred because of bloodshed and hostility. He points out that the brutality of criminals reflects the frustration that prevails in society.
“We have to be vigilant because this frustration is causing the crime graph to rise. Rapists should be punished by keeping in mind the scope of the crime and getting them punished immediately, “he added.
PESHAWAR: If it were up to Chief Minister Khyber Pakhtunkhwa Mahmood Khan, he would order public hangings of men who raped and killed children. However, he was aware of the impact of the decision, especially at the international level, and was therefore unable to do so. In a chat with The News recently, he said that cutting off the heads of rapists in public would send a powerful message to criminals and serve as a deterrent to other offenders. Prime Minister Imran Khan has proposed chemical castration of rapists after an incident on the Highway where a woman was raped in front of her children in Punjab and after another case of children being raped and murdered. Some of his ministers also want public executions of these offenders, but they also recognize that this move will have an international impact and bring Pakistan under the spotlight. Acknowledging that a number of incidents of rape and child murder have been reported in Khyber Pakhtunkhwa in recent months, the chief minister said he had tasked the chief secretary and inspector general of police to come up with a plan to take action to tackle crimes against children. “We need to protect our children and enact laws to strengthen the punishments that will be given to rapists and other criminals,” he argued. Chief Minister Mahmood Khan said some of these crimes against children occurred because of bloodshed and hostility. He points out that the brutality of criminals reflects the frustration that prevails in society. “We have to be vigilant because this frustration is causing the crime graph to rise. Rapists should be punished by keeping in mind the scope of the crime and getting them punished immediately, “he added.
Faced with hostile opposition and a narrow majority in the National Assembly, the transfer of Gilgit-Baltistan to Pakistan’s fifth province appears to be a tough task for the government led by Imran Khan. To elevate Gilgit-Baltistan to a province complete with all constitutional rights, including representation in the National Assembly and Senate, will require amendments to Pakistan’s constitution which can only be achieved with a two-thirds majority in parliament. In a bid to reassure the opposition, military commander General Qamar Javed Bajwa and ISI chief Lt. Gen. Faiz Hameed last month met with 15 senior opposition leaders, including imprisoned PML-N president Shahbaz Sharif and PPP chairman Bilawal Bhutto Zardari, to convince them to support the government on the amalgamation of Gilgit-Baltistan, a disputed territory between India and Pakistan, which was previously part of Jammu & Kashmir. Initial information about the meeting revealed that the opposition had assured military authorities they would discuss the matter following Gilgit-Baltistan’s ‘legislative assembly’ elections, scheduled for Pakistan on November 15.