May 11, Colombo (LNW): Sri Lanka’s port city, despite having 100% foreign ownership, sound regulations, and first-class infrastructure, has not been able to fully tap its investment potential due to delays in approval, slow progress in regulatory development, and a lack of government-led international promotion, the Sri Lankan media commented.
At present, investors in the Middle East are seeking opportunities for “South-South cooperation.” “If the Sri Lankan government continues to act slowly, it may hand over a large number of potential investment opportunities to the Maldives and emerging economic special zones in eastern Africa.”
Commentators believe that the government must take decisive measures to accelerate the facilitation of cross-border investment, demonstrate construction progress, ensure policy continuity, and revitalize the confidence of international investors. The Port City has the potential to be the engine of Sri Lanka’s economy, but without government-level promotion and publicity, the project may become a textbook example of “missed opportunities.”
Although Sri Lanka has a stronger foundation, if it does not show a “truly open” attitude, the Maldives will take the opportunity to attract more investment. At present, there are several flagship projects launched in Port City, the government should show its value proposition as early as possible to gain competitive advantages in the region. The World Bank predicts that Maldives’ GDP will grow by 5.7% in 2025.
