Colombo, Oct. 19 (Daily Mirror) - Opposition Leader Sajith Premadasa today expressed concern over reports that HSBC’s Global Service Centre in Sri Lanka could relocate its operations to the Philippines, potentially resulting in the loss of thousands of jobs.
In a post on X, Mr. Premadasa questioned whether Sri Lanka should be attracting more foreign direct investment (FDI) rather than witnessing the withdrawal of major foreign investors.
“Aren’t we supposed to attract substantial amounts of foreign direct investments rather than becoming mere spectators of mass-scale foreign investment withdrawals?” he asked.
Mr. Premadasa said he had heard that HSBC’s Global Service Centre could move its operations to the Philippines, resulting in the loss of 3,000 direct jobs and 500 indirect jobs, with the withdrawal expected to be completed by December 2027.
“I certainly hope that this isn’t true because, if it is so, it would spell a significant economic setback for our motherland,” he added.