Duty-free retail business requirements at Port City gazetted

Date:

Colombo (LNW): A Gazette notification has been released outlining the requirements for investors keen on operating duty-free retail or shopping mall ventures in the Colombo Port City.

Issued on October 25, 2023, by President Ranil Wickremesinghe, in his role as the Minister of Investment Promotion, the Gazette states that to manage a duty-free retail business, an investor must invest a minimum of USD 5 million and possess international experience in duty-free trading.

Meanwhile, a minimum investment of USD 7 million is mandated for those looking to operate a duty-free shopping mall within the Colombo Port City.

Share post:

spot_imgspot_img

Popular

More like this
Related

China donates emergency relief supplies worth Rs. 400 mn to assist Sri Lanka’s flood recovery

China donates emergency relief supplies worth Rs. 400 mn to assist Sri Lanka’s flood recovery

Fresh charges filed over alleged escape plot involving underworld kingpin Harak Kata and ex-CID officer

Fresh charges filed over alleged escape plot involving underworld kingpin Harak Kata and ex-CID officer

Australia reaffirms commitment to Sri Lanka’s development as High Commissioner bids farewell

Australia reaffirms commitment to Sri Lanka’s development as High Commissioner bids farewell

PUCSL launches full-scale inquiry into February blackout that plunged Sri Lanka into darkness

PUCSL launches full-scale inquiry into February blackout that plunged Sri Lanka into darkness