Nilgiri
INT'L MOD
- Aug 4, 2015
- 25,783
- 48,142
- Country of Origin
- Country of Residence
Shipping hub can industrialize the nation further. Manufacturer see it as good location as their manufacturing hub. Singapore is the highest FDI recipient in South East Asia, it is despite it is only small island with much less people
Singapore had a strategy with Lee Kuan Yew.
Sri Lanka never did, putting aside the civil war effects and what lingers from it.
Hence why Singapore has its forex level where it was and is and its sovereign wealth funds where they were are are now all through the trajectory. Large part was helped by oil refining as well (again capital SL never deployed).
So simply tacking on a white elephant style port means you get the exact forex collapse and default that Sri Lanka had happen.
People scratching their heads at it (why SL with its per capita socioeconomics overall doesnt have the per capita forex level of India which is now approaching 700 billion USD)...i.e why doesn't SL economy have 10 billion in forex easily, or even 20 billion....by itself and with no IMF package to provide the large part of the current 5 billion level to stay afloat.
It did nothing of the 10 other important things to do over 10, 20 and 30 years that Singapore did.
The forex solvency will dictate a lot of the south asian neighbourhood outside India this decade btw. Outside India, its extremely bad management on this. It matters with heavy capital projects and the follow up required to produce returns and solvency....rather than IMF bailouts and defaults.