Financial Times

Ceylinco problem among issues in confidence-crisis facing construction industry

By Quintus Perera

The Ceylinco crisis and the global recession has hit the construction industry, specially in the sale of housing units as prospective buyers have lost confidence in businesses involved in selling housing units, said Surath Wickramasinghe, President, Chamber of Construction Industry Sri Lanka.

He said this in Colombo this week, while announcing the holding of the Construction Exhibition – Excon 2009 – first International Construction Expo from 30 October to 1 November 2009 at the BMICH.
Mr Wickramasinghe said that they have been holding this exhibition for the last five years but this is the first time they expect more than 40 stalls by various foreign countries.

He said that there would be large scale participation of Indian companies as trade stallholders and also by entrepreneurs from construction and allied industries from Singapore, Malaysia and Vietnam. Participation from Gulf countries.

He said that with the liberation of the North and East there would be tremendous development activity in those areas and noted that this development also means construction in various forms.
The foreign participation will facilitate technology transfer to the local industry and linkage building with regional counterparts which could lead to mutually beneficial joint ventures and other partnering arrangements.

Newly appointed Vice President, CCI, Nawaz Rajabdeen said that this year for the first time the CCI is going the embrace the Regional and District Trade Chambers and get their participation in this exhibition. He said that there would be tremendous development activity taking place in the country, specially the North and East.

He said that the Sri Lankan construction people should get their share in the construction activities through the CCI using local engineers, architects and other provincial professionals to work in the development (construction) in these areas.

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