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Port City, Colombo's hub in the next decade

14 December 2015 03:52 am - 17     - {{hitsCtrl.values.hits}}

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The Colombo Port City would become the business district of Colombo, the down-town in the next decade or so, said Central Bank Governor Arjuna Mahendran.

Speaking at the Mayor's Forum, held to celebrate the 150th anniversary of the Colombo Municipality, Mahendran said the prospective Colombo Port City would lead Colombo and Sri Lanka to the global value chain.

The Central Bank Governor also said the issue of land ownership and property rights in the country needed to be addressed.

“This area of legislation in Sri Lanka has unfortunately become muddy and unclear in recent years and there is an urgent need to repair this situation,” he said.

The new government of Sri Lanka was looking at bringing in new legislation to address the issue. “There has to be a very clear framework in terms of the ownership of property and property rights, whether they are locals or foreigners that come into the city. I believe the issue is being addressed as we speak,” he said.

It was crucial to have clear guideline in such matters if a mega city was to thrive, the Governor said.(Nabeela Hussain)

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  Comments - 17

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  • mike Monday, 14 December 2015 01:45 PM

    your brains are below commensence line. below poverty line is around 1.2%. know what u are talking- get the facts right

    Boien Tuesday, 15 December 2015 04:20 PM

    Sapu, check where ur apple is manufactured in?

    GC Monday, 14 December 2015 05:20 PM

    The issue here is these guys heavily criticized the project and raised the hopes of those who would be affected (the coastal belt people) to win their votes. People will now say that the politicians were either deceitful and dishonest or they too have been bought over now. For the locals, the main issue was not freehold by Chinese but effects on their own land and livelihoods. It will be no wonder if people have now lost faith in democracy. Look at how some defeated candidates are now powerful ministers.

    Sapu Monday, 14 December 2015 04:41 PM

    Ryan are you dreaming? US has all the top companies in the world like Apple and Boeing

    Ryan Monday, 14 December 2015 02:59 PM

    Sorry bro, USA is beggers country, china has money

    Ruwan Monday, 14 December 2015 02:52 PM

    Look at all negative comments This is why its very difficult for Sri Lanka to change. A very few people embrace change or at least try to change. via DM Android App

    AR Monday, 14 December 2015 02:28 PM

    Please request India or the US or Europe to invest in Sri Lanka. These countries have a lot of money and offer us their investments in reasonable terms.

    mike Monday, 14 December 2015 02:12 PM

    ha ha ha you guys said port city will be stopped when elected ? its not good for country? now different tune? this means MR was right??? in a few months you will say MR was good. ha ha welcome to the change people wanted

    Ryan Hudson Monday, 14 December 2015 02:01 PM

    Port city is the way for Sri Lanka in balance of payments crisis

    Bippity Boppity Boo Monday, 14 December 2015 09:47 AM

    Take it from the right ear and let is pass through the left ear. It is just pep talk for the highly faulted budget.

    Leo Monday, 14 December 2015 01:31 PM

    Mr. Bond hiding now talking. via DM Android App

    Patriot (TM) Monday, 14 December 2015 01:18 PM

    Port city was the biggest evil promoted during elections. Honour the word to stop it :)

    Mason Monday, 14 December 2015 01:17 PM

    Persons who have lost their credibility should not be made to address forums. People frown upon them and they are hardly listened to.

    lkboy Monday, 14 December 2015 12:35 PM

    You mean ownership to China?

    Ranco Monday, 14 December 2015 10:23 AM

    For such a poor county where more than 80% live below the poverty line

    Ryan Hudson Monday, 14 December 2015 09:52 AM

    Great, this is what we wanted. All the best

    nan Monday, 14 December 2015 09:47 AM

    are u sure it is srilanka and not singapore


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