The Colombo Port City will feature prominently at the year’s Commonwealth Heads of Government Meeting taking place in Rwanda this week.
This is the project’s first international forum since completion of land reclamation in January 2019, and the Port City
Economic Commission Act that was passed in May last year. 54 member countries in the Commonwealth will participate at the forum, whilst the 36 other nations too will be present at the event in Kigali, Rwanda.
The Project Company is also a Strategic Partner to the Commonwealth Enterprise and Investment Committee, whereby it receives a dedicated slot as a knowledge partner for the Commonwealth Business Forum.
The Port City project has attracted investments for about 4.5 hectares of its entirety last year, which includes a $ 500 million investment that is billed to get underway before the end of the year.
CHEC Port City Colombo Deputy Managing Director Thulci Aluwihare revealed the Project’s Managers are sticking to the timelines and plans it had originally drawn out, on the back of a roadshow done in the UK, Singapore and Dubai.
In August this year, Port City Colombo will feature at the World City Summit in Singapore, which attracts city administrators, planners and investors from around the world.
Aluwihare noted it was crucial to build awareness, as Sri Lanka is widely reputed as a tourist destination and not known for business. This is why a very progressive Special Economic Zone law with competitive business-friendly regulation is needed, he said
Aluwihare expressed hope that with the potential advent of global multinationals to Sri Lanka, who could well set up regional offices in the Port City, Sri Lankan talent would opt to work for these multinationals from here at home.
The SEZ law states that employees must be paid in dollars, so there is great opportunity and scope through this project to people and local industries, he explained.
There could be great potential for local supply chains as Sri Lankan companies and individuals of all sizes and walks could provide goods and services, which in essence serve as an export and be paid in foreign currency. That impact will definitely flow outside Port City he pointedout.
Aluwihare expressed hope that with the potential advent of global multinationals to Sri Lanka, who could well set up regional offices in the Port City, Sri Lankan talent would opt to work for these multinationals from here at home.
The SEZ law states that employees must be paid in dollars, so there is great opportunity and scope through this project to people and local industries, he explained.
