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Colombo Port City transforms to a logistics/business hub in South Asia

By: Staff Writer

April 30, Colombo (LNW): Port City Colombo is to be transformed as a regional logistics/business hub and financial centre in the heart of South Asia.

CHEC Port City Colombo (Pvt) Limited  has established a special partnership with the Sri Lanka Export Development Board, in an important step forward in positioning Port City Colombo towards this end.

In a significant move towards attracting export-oriented businesses to Port City Colombo, CHEC Port City Colombo (Pvt) Ltd recently entered into a partnership with the Sri Lanka Export Development Board (EDB).

 A memorandum of understanding (MoU) was signed between the two parties to this effect at a special ceremony held on the 26th of April 2024 at the Port City Colombo Sales Gallery. Singing on behalf of the EDB was its Chairman, Dr Kingsley Bernard, while Managing Director of CHEC Port City Colombo (Pvt) Limited, Mr Xiong Hongfeng signed for Port City Colombo.

Discussing the importance of the partnership, Mr. Hongfeng said, they feel that this collaboration will enable us to promote Port City Colombo as a strategic location for export-oriented businesses to set up operations, whilst ensuring that we provide these entities the opportunity to further drive the economic development of Sri Lanka.”

Dr Bernard also commented saying that the SLEDB partnership with CHEC Port City Colombo (Pvt) Ltd will be a turning point for the Sri Lankan export community.

This will help create awareness about the attractive fiscal and non-fiscal benefits and opportunities available for local exporters, and the establishment of their respective trade/buying office operations within the Colombo Port City Special Economic Zone.”

This partnership will allow Port City Colombo and the SLEDB to seamlessly work in collaboration to promote the Colombo Port City Special Economic Zone as an attractive commercial destination for export-oriented businesses.

 Accordingly, Port City Colombo will leverage its direct access to global markets, including that of Middle East, Asia-Pacific, and South Asia, whilst the SLEDB will provide the essential expertise and support to prospective businesses.

Together, the two parties will work towards positioning Port City Colombo as an attractive strategic logistics hub in the South Asia region.

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