If Sri Lanka wins Commonwealth Games bid: Ample opportunities for investment

Courtesy - Sunday Observer By Anuradha KODAGODA

With just three more weeks to go to select the country to host the 2012 Commonwealth Games, speculation is rife as to whether Sri Lanka will be afforded the opportunity of hosting the Games. The decision will be made at the Commonwealth Games Federation (CGF) general assembly in St. Kitts and Nevis on November 11. In October 2010, President Mahinda Rajapaksa appointed an Organising Committee (OC) comprising high ranking officials of the Government as well as leading businessmen from the private sector to attend to obtaining the bid. The OC is co-chaired by Mahindananda Aluthgamage, Minister of Sports and Ajith Nivard Cabraal, Governor of the Central Bank of Sri Lanka.

The Sunday Observer spoke to Governor, Central Bank, Ajith Nivard Cabraal, Co-Chairman of the Organising Committee. He said that, “Sri Lanka was confident of winning the bid, with a majority of the Commonwealth countries voting in favour of Sri Lanka.

Most of the countries have already pledged their support to us. The fact that there is a seven-year lag between the vote and hosting of the Games means that this time period is for the country to make preparations to host the games and providing the opportunity for new countries to emerge. “I strongly believe that the whole experience hinges not on being event-ready but on getting ready over seven years. There are enormous opportunities for young people to train, for venues to be constructed, for businesses to grow, and for legacies to be planned,” “We look forward to welcoming professional athletes to our state-of-the-art training venues in 2018, we have looked to peak at the right time.

MP Namal Rajapaksa showing an artist's impression of the Hambantota Games City to a representative of the Games Association at the launch of the bid.

We know the importance of timing; both ahead of this life-changing vote and beyond,” he said. When we posed the question about requirements that we as a country needed to fulfil to be selected as a host country and if selected the benefits that will accrue in our favour, he said, “The Commonwealth Games Federation requires a bid book to be initially presented by the bidding countries, which is Hambantota-Sri Lanka and Gold Coast-Australia.

The Bid contains a number of assurances, indicating that the winning city and country will be committed to providing necessary support to host the games. According to the undertakings given by us, it is necessary for the host city to complete building infrastructure and be ready by 2016,” “If Hambantota-Sri Lanka wins the bid, the country will benefit in numerous ways. The opportunity to brand Sri Lanka across the globe and, in particular, the Commonwealth countries would be afforded. A number of foreign investors have already stretched their helping hand to support to improve infrastructure facilities in the games village which will be a massive development project in the country.

There would be an improvement of foreign direct investment to games-related new projects and internationally reputed hotel chains have pledged to build hotels in Hambantota and in other areas to facilitate accommodation requirements. This will have a direct impact on tourism, not only in the short-term, but in the long-term too. A large number of spectators who arrive to witness the Games from all regions to Sri Lanka would also create various opportunities. Visitors would patronise tourist regions in the country, and this would continue into the future. There will be a significant demand for job opportunities in the construction and hospitality sector.

The Mattala International Airport will be completed by the end of 2013, together with connecting express ways and highways to other cities. Hosting the Commonwealth Games 2018 will facilitate the Hambantota master development plan. “Hambantota games city development is planned on a public-private partnership basis. While the Government will attend to some of the infrastructure facilities, the balance will be financed by the private sector. In addition, as I mentioned before a number of foreign investors have pledged their willingness to be involved in the games city development. This arrangement will spread out expenditure in the public and private sectors. In addition, foreign investment would help to finance part of the expenses,” he explained.