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Message: <blockquote data-quote="monson" data-source="post: 20227912" data-attributes="member: 30005">Shangri-La to invest more <img src="http://www.dailynews.lk/sites/default/files/news/2016/06/02/z_pi-shangri-la1.jpg" alt="" class="fr-fic fr-dii fr-draggable " style="" /> Sri Lanka which is economically growing fast has great potential and Shangri-La will bring in more investments to the country, said Kuok Meng Xiong - Chairman of the hotel, Sri Lanka.In an exclusive interview with Daily News Business after opening their US$ 125 million Shangri-La Resort and Spa near the Hambantota Harbour he said that their second property, Shangri-La, Colombo would open in less than 14 months.“We also saw the potential of Sri Lanka with its unique location, FTA’s with neighbouring countries, tourism and peaceful environment.”He said some of the world’s top hotel properties are managed by Sri Lankans and their style and skill also inspired them to invest in Sri Lanka.“Our company is into logistics, agriculture and several other businesses and we may look at investments in sugar and palm oil in Sri Lanka. We have confidence in Sri Lanka and its tourism and not are afraid to reinvest,” he said.In addition through Kenny Logistics Shangri-La will bring in some of the world renowned shopping mall companies as well as global brands to Sri Lanka and to Hambantota as well. “We are here not for short term gain but as a long term player and help in the country’s progress as well.Shangri-La is doing business with Sri Lanka for the past eight years though our Fortune brand oil. This is how we made contact with local people, entrepreneurs, and decision makers and found that Sri Lankans were honest, sincere and had many skills,” he said.The company then decided to invest in Sri Lanka with a Shagri-La Hotel and when they were head hunting for land had come across the 150 acre privately owned coconut estate in prime location and bought it, he said.Xiong said that they were not forced or pressurized to invest in Hambantota. “We were politically not influenced to build in Hambantota,” he said.The 33 year old entrepreneur based in Hong Kong said that they are looking at third property. “We are looking for locations and are working closely with BOI.”Commenting on their property in Galle Face, Colombo, he said it would have 565 rooms with suites. “We will have a 2,000 cover banquet hall and hope to catch a big share of the ‘wedding market’ in Colombo.Read more:<a href="http://www.dailynews.lk/?q=2016/06/03/business/83570" target="_blank">http://www.dailynews.lk/?q=2016/06/03/business/83570</a></blockquote>

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