“Many investment opportunities in Port City Colombo” – The Island
There are many opportunities for a wide range of investors as Port City Colombo comes to fruition, given the strategic location, business-friendly policies and outstanding infrastructure being developed, said Sir Hugo Swire , Vice Chairman of the Commonwealth Enterprise Investment Council (CWEIC). .
A press release said in this regard, “An investor event showcasing the Port City Colombo Special Economic Zone was held at the Sri Lanka High Commission in the UK on 26th April 2022. It was organized by the project company, CHEC Port City Colombo (Pvt) Ltd in association with the High Commission and the Commonwealth Enterprise and Investment Council (CWEIC), of which the project company is a strategic partner.
“High Commissioner Saroja Sirisena underlined that Sri Lanka has long had close ties with the UK, particularly in areas such as education; hosting a diverse group of attendees including business leaders, high net worth individuals and private equity investors. Sir Hugo Swire, Vice President of CWEIC, pointed out that the port city offers many opportunities for Sri Lanka to significantly benefit from trade and internationalization, thus contributing to a rapid recovery from the economic situation prevailing in Sri Lanka. Lanka.
“The purpose of the event was to publicize the Multi-Service Special Economic Zone established by Law No. 11 of 2021 on Economic Commission of the Port City of Colombo in May 2021. Thulci Aluwihare, Deputy General Manager of CHEC Port City Colombo , in his presentation highlighted the many business-friendly provisions in the legislation that increase the ease of doing business in Sri Lanka.While inviting investment to Port City, Aluwihare also spoke of the opportunity for Port City to collaborate with the Board of Investment (BOI) with the aim of reviving the Sri Lankan economy by attracting foreign direct investment in the manufacturing and service sectors.
“Aluwihare underscored the need to strengthen Sri Lanka’s commitments to investor protection in this difficult economic situation and highlighted the relevant legal provisions providing protection to investors under the recently enacted Port City Economic Commission Act. from Colombo. He stressed the need for the port city to be economically isolated to insulate businesses and investors from the macro-economic challenges of the national economy. It is important to inspire confidence in investors and regulations are currently being drafted by the Economic Commission of the Port City of Colombo to affirm this position, he said.
‘dr. Harsha Alles, Chairman of Gateway Group, which has entered into a Memorandum of Understanding with the Port City Economic Commission of Colombo and CHEC Port City Colombo to facilitate the development of a state-of-the-art international school in Colombo, highlighted the rigorous process followed in this regard, assisted by Oxygy – Education Advisors UK. He said that while many reputable schools in the UK have expressed interest in establishing Port City, the aim of the consortium of investors is to select the institution that offers the most holistic student experience. He invited the participating investor community to join the investment consortium pioneering the entry of a renowned UK-based education brand into South Asia.
“As a landmark development project in Sri Lanka, Port City Colombo will continue to invite investment from around the world to accelerate Sri Lanka’s economic recovery. CHEC Port City Colombo will embark on a series of investor events across the region over the coming months to highlight the investment opportunities on offer.