Australian casino mogul James Packer Wednesday gave a resounding recommendation for Sri Lanka as a business destination, insisting the island is poised to become one of the most exciting destinations in the world.
Packer was addressing the Commonwealth Business Forum (CBF) on the sidelines of the Commonwealth Heads of Government Meeting (CHOGM), Xinhua reported.
Over 1,500 delegates from 95 countries are attending the CBF, which hopes to attract $2 billion in investment to Sri Lanka.
Packer has proposed the first large scale casino in Sri Lanka with an investment of $350 million.
But the project has run into a controversy over a 12-year tax concession suggested by the Sri Lankan government as well as legislative and moral issues.
Ahead of Packer's visit for the CBF, the main opposition United National Party (UNP) lodged a protest with the police calling for Packer's arrest but the investor had nothing but praise for Sri Lanka.
"Sri Lanka is a country that is growing in confidence everyday. Every time I visit, I am more impressed by the continual improvements in infrastructure and the rising living standards of its people," he told the gathering.
"I believe, along with the rest of the country, it has the potential to become one of the region's great destinations for business, tourism and investment."
Packer dwelt extensively on the growth of the middle class in China and India that would fuel Sri Lanka's booming post-war tourism industry, which hopes to attract 2.5 million travellers by 2016.
"China's middle class are changing the world. There are over 300 million middle class consumers in China today - equal to almost the entire population of the United States. By 2030, China is expected to have 1.4 billion middle class consumers," he said.
"No one should be in any doubt, the wealthy Chinese middle class want luxury travel, luxury hotels, signature restaurants, quality entertainment, gaming, casinos and high-end retail."
According to Packer, the significant increase in Chinese travel to Sri Lanka, an expansion of 74 percent so far this year, needs to be tapped with the establishment of integrated resorts including casinos.
"Sri Lanka is now poised to take the international stage as one of the world's most unique and exciting global destinations. Sri Lanka is a modern economy, growing strongly with a very professional approach to business and foreign investment," he stated
"I believe it is Sri Lanka's time to shine in Asia and I urge you all to consider this great country and these great people as a destination for your business."
Along with Packer's project, the government is paving the way for two more large scale casinos that are expected to top $1 billion.
Sri Lanka's government has also earmarked 50 projects to promote investment during the CBF.
