Port City to be launched in Dubai and Abu Dhabi on Sep. 26

23 September 2023 04:00 am - 7 - {{hitsCtrl.values.hits}}

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By Yohan Perera and Ajith Siriwardana

Port City Colombo (PCC) would be launched in Dubai and Abu Dhabi on September 26, Investment Promotion Minister Dilum Amunugama told Parliament this week.

“There is a possibility of positioning PCC as an offshore financial city. Former UK Prime Minister David Cameron is expected to participate in the event.

Around 17 foreign investors have expressed their willingness to invest on the reclaimed land,” he added.

Parliament imposed this week a regulation under the Port City Development Bill, through which the investors will be given development licences.

PCC is a visionary foreign direct investment-funded mixed development project that aims to redefine Sri Lanka’s economic and social landscape. Built on reclaimed land, adjacent to the heart of Sri Lanka’s capital, Colombo, PCC will offer a cosmopolitan lifestyle, world-class infrastructure and sustainable living.

As a Special Economic Zone (SEZ), it also provides a range of incentives and benefits for businesses, making it an ideal destination for international businesses, hotel owners and operators to establish their presence in Sri Lanka.

The SEZ’s independent governance framework, by way of the Colombo Port City Economic Commission (CPCEC), is also setting the stage for PCC to become one of the easiest places to do business in the region, further cementing its prospects as the Gateway to South Asia.

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Comments - 7

Spartacus Saturday, 23 September 2023 08:37 AM

Point is, after all the repeated disasters happening in Sr Lanka after independence, can Sinhalese governance, impunity, arrogance and indicipline ever get trusted? Something not seen in other countries promoting similar investments.

Sambo Saturday, 23 September 2023 10:13 AM

Port City a lost cause. No Chinese business as promised. Where are the 100000 thousand jobs promised.

SCRanjithA Saturday, 23 September 2023 11:29 AM

Certainly you are off your nuts. Jobs will not be created overnight anywhere in the world. It should be understood that ,100,000 jobs would be created when the project is in full swing. Do not make foolish comments. Be constructive in your criticism always.

Liberal One Sunday, 24 September 2023 09:12 AM

Other countries work 20 years to deliver 100,000 jobs. We intervene in the project each 5 years and then ask where are the jobs.

Sinamika Saturday, 23 September 2023 12:24 PM

By the time the port city is up and running, the glaciers would’ve all melted and the port city would have gone under water.

Gaston Saturday, 23 September 2023 07:58 PM

Another family trip to Dubai for the siblings of politicians with per diems. Wouldnt be surprised if the mother-in-law of Dotstara Astra Nut would not be included.

Jesus Monday, 25 September 2023 10:18 AM

Keeping colombo fort closed talking about port city... Move the president office from there so that tourist can visite and see all the heritage site.. Sad...

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Port City to be launched in Dubai and Abu Dhabi on Sep. 26

Comments - 7

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