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| Sunday, 11 December 2005 |
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Business |  |
| News Business Features Editorial
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Lanka meets our criteria, says HSBC Asia Pacific chief Modern telecommunication infrastructure, language and computer skills of the labour force and work ethics in Sri Lanka meet international criteria, said Chairman of the HSBC Asia-Pacific Vincent Cheng at the inauguration of Hexagon House, the bank's first Global Service Centre (GSC) in Sri Lanka at Rajagiriya last Wednesday. When we scan the globe to determine the best location for our processing centres we consider these factors. We are here today to inaugurate Hexagon House because Sri Lanka met our criteria on all these counts, Cheng said. HSBC has the ability to work across borders to optimise cost savings and offer competitive services because technology allows us to do certain activities such as data and transaction processing in almost any location and anywhere the appropriate skills exist, he said. The new GSC building is a 186,000 square foot state-of-the-art operations centre with potential accommodation for 3,000 employees. The Colombo GSC will be able to provide world-class service to its customers with other HSBC business areas. HSBC will start day and night banking services at the new premises. The HSBC Group is one of the world's largest banking and financial service organisations. Its first GSC was opened in 1996 in China and today it carries out operations through 11 centres in five countries. The new investment of the bank in Colombo boosts the confidence of the business climate in the island among international investors. since the cease- fire agreement between the government and the Liberation Tigers of Tamil Eelam (LTTE) in 2002 the growth momentum of the economy continues and the business confidence of the country is being improved. Sri Lanka is striving to attract FDI which is around 1% of GDP today. The chief guest, Minister of Investment Promotion Rohitha Bogollagama said that the new HSBC tower has changed Colombo's skyline. This magnificent investment in business services outsourcing opened a new dimension in investment in Sri Lanka. GW |
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