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Colombo Port City Economic Zone to become engine of economic development

June 22, Colombo (LNW):  Port City Colombo, the multi-services Special Economic Zone, is set to become the engine of Sri Lanka’s future economic development by opening up opportunities for local and international university-level students to pursue academics in diversified fields of study.

Fulfilling the regional demand for undergraduate and postgraduate degree programs in Engineering, Information Technology, Business Studies/Management, Finance, Marketing, and Medicine, Port City Colombo aims to contribute positively towards the reversal of ‘brain drain’ and reduction of the current skills gap in the local employment market. 

Soon to be showcased at Port City Colombo, the international university, commanding a premier record in research and development, is expected to position Colombo into a strategic regional hub for tertiary education.

 It will be located adjacent to the international school on a 2.5 Ha land plot, housing a number of key faculties staffed by acknowledged subject matter experts facilitating both undergraduate and postgraduate degrees. The international university is estimated to accommodate a capacity of 3,000 to 4,000 students. 

The university will offer a projected academic program in the field of medicine, which will support Port City Colombo’s vision of providing world-class learning and training facilities that would encourage prospective medical students to pursue their studies locally.

 With several medical students migrating overseas due to limited university placements in Sri Lanka and attractive post-graduate work permit programs, the university will create a thriving ecosystem where these students could equip themselves with the skills and competencies required for a successful career in medicine.

 This will also include a potential partnership with the teaching school at the proposed international hospital in Port City Colombo.

By providing undergraduate and postgraduate degrees in technology, the international university will further enable the growth of Sri Lanka’s IT sector, which is currently the third largest foreign exchange earner for the country. 

Having generated over $ 1.5 billion foreign exchange in 2022, this salient industry’s progress is presently impacted by a loss of skilled IT professionals and a limited number of graduates produced annually.

 The university at Port City Colombo aspires to mitigate the current supply gap in the market, with its assortment of academic programs, and strengthen Sri Lanka’s digital economy. 

Degree programs in the STEM field will also be a focus of the International University at Port City Colombo. 

With the goal of making Sri Lanka more globally competitive, the University will underscore the production of more STEM graduates that will contribute towards the progress of this ever-crucial sector. 

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