Jack Ma eyes Sri Lanka for e-commerce

Friday, 20 January 2017 00:13 - - {{hitsCtrl.values.hits}}

Meets Finance Minister Ravi Karunanayake on the sidelines of the World Economic Forum (WEF)

World-famous Chinese e-commerce company Alibaba has showed keen interest to invest in Sri Lanka and build an e-commerce platform to further promote its online business ventures, the Finance Ministry said yesterday.

Alibaba founder and current Chairman, Jack Ma, conveyed his interest during a meeting with Finance Minister Ravi Karunanayake on Wednesday. The meeting was held on the sidelines of World Economic Forum 2017 being held in Davos, Switzerland.

Ma stated that he would take immediate action to begin investing in Sri Lanka. He also pointed out that his proposed investment would generate hundreds of employment options for the country’s youth.

Founded in 1991, Alibaba’s gross annual income exceeds $ 10.33 billion. The total assets of the company are about $ 52.97 billion.

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

Ma owns assets worth roughly $ 20.5 billion and is the second richest person in China.