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.
