An Overview of Construction Market of Sri Lanka

Year : 2023 | Volume : 01 | Issue : 01 | Page : 58-64
By

    Sandeepan saha

  1. Dipak Paul

  1. Assistant Professor, Department of Civil Engineering, Greater Kolkata College of Engineering and Management,, Baruipur, West Bengal, India
  2. Student, Department of Civil Engineering, Greater Kolkata College of Engineering and Management, West Bengal, India

Abstract

This paper provides an overview of the construction market in Sri Lanka, with a focus on the Colombo region. It discusses the strengths, weaknesses, opportunities, and constraints of the construction market in the country. The main drivers of the construction sector are identified, including urbanization and infrastructure development. The paper explores the ease of embarking on international construction projects within the Colombo region, noting that while the Sri Lankan government encourages foreign investment, the local construction industry may not always welcome foreign companies. China and India are recognized as key players in the Sri Lankan construction sector. The ease of embarking on international construction projects within the Colombo region is explored. It is noted that while the Sri Lankan government allows foreign investment in infrastructure projects, the local construction industry is not always receptive to foreign construction companies. China and India are identified as key players in the Sri Lankan construction sector, with China playing a major role in funding and building major projects in the country. The main drivers of the construction sector are highlighted, such as urbanization and the government’s plans for the development of new cities. The importance of infrastructure development and improving energy supply is emphasized as key drivers for economic growth. The paper also highlights the key operational and commercial challenges faced by companies seeking to undertake international construction projects in the region, including political and legal issues, cultural differences, technical limitations, managerial challenges, economic constraints, environmental concerns, social factors, and corruption. The conclusion emphasizes the need for project managers to understand the local environment, remain flexible, and address the challenges associated with international construction projects in Sri Lanka. It also underscores the importance of foreign investment in the construction sector for the region’s economic development

Keywords: Sri Lanka, construction industry, skilled labor, regional corporation, construction materials.

[This article belongs to International Journal of Rural and Regional Development(ijrrd)]

How to cite this article: Sandeepan saha, Dipak Paul An Overview of Construction Market of Sri Lanka ijrrd 2023; 01:58-64
How to cite this URL: Sandeepan saha, Dipak Paul An Overview of Construction Market of Sri Lanka ijrrd 2023 {cited 2023 Jul 10};01:58-64. Available from: https://journals.stmjournals.com/ijrrd/article=2023/view=115200

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Regular Issue Subscription Review Article
Volume 01
Issue 01
Received June 23, 2023
Accepted June 26, 2023
Published July 10, 2023