Alibaba eyes Sri Lanka for e-Commerce platform

Alibaba eyes Sri Lanka for e-Commerce platform

Alibaba eyes Sri Lanka for e-Commerce platform

Written by Staff Writer

19 Jan, 2017 | 4:55 pm

Ministry of Finance issuing a press release notes that the world famous Chinese e-Commerce company Alibaba has showed keen interest to investing in Sri Lanka and to build an e-Commerce platform to further promote its on-line business ventures.

Founder of Alibaba e-Commerce company and its current chairman Jack Ma has evinced his interest during a meeting with Finance Minister Ravi Karunanayake on Wednesday, January 18.

The meeting was held on the sidelines of World Economic Forum 2017 being held at Davos in Switzerland.

According to the press release issued by the Ministry of Finance, Jack Ma has stated that he will take immediate action to start investment in Sri Lanka and has also pointed out that his proposed investment will generate hundreds of employment to the youth in Sri Lanka.

Alibaba was incepted in 1991 and its gross annual income exceeds US $ 10.33 billion. The total assets of the company are about US $ 52.97 billion.

Alibaba is  China’s, and by some measures the world’s biggest e-Commerce company and hosts millions of merchants and groups.

According to ratings released by Forbes, Jack Ma has been chosen as the 33rd businessman among the world’s richest in 2016.

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