Other

Ceylon Chamber lauds govt’s ‘free ports’ initiative

01 Aug 2013 - {{hitsCtrl.values.hits}}

Sri Lanka’s Ceylon Chamber of Commerce (CCC) has welcomed the initiative by the government to declare Sri Lanka’s four main ports, Colombo, Hambantota, Trincomalee and Galle as ‘free ports’.

“The Chamber welcomes this initiative to declare Colombo and Hambantota as free ports and Katunayake, Koggala and Mirijjawila Export Processing Zones and Mattala Rajapaksa International Airport as bonded warehouses with significant tax concessions being offered for stipulated investments, subject to achieving defined export targets,” a CCC statement said.

It further stated that the CCC has always stood for the need to increase Sri Lanka’s exports and make Sri Lanka an export-centric nation to sustain a high growth momentum.

The statement also noted that time and again the chamber has highlighted the facilitation support required from the government to encourage exports.

“We believe that this initiative lays the foundation for a paradigm shift in our economy to boost investments and exports, at a time when the Asian giants China, India and Japan are actively exploring opportunities to invest in Sri Lanka for varying reasons,” it said.

The declaration entitles enterprises which are 65 percent foreign-owned and operating through the specified areas for wide tax exemptions, including provisions under the Customs Ordinance and Exchange Control Act.

Other

Ceylon Chamber lauds govt’s ‘free ports’ initiative

Most Popular Articles

Sri Lanka’s IMF reserve target comes under pressure: KPMG

Sri Lanka explores local gold refinery as IMF regulations delay import tax relief for jewellers

CSE ends lower as turnover falls to year’s lowest, ASPI holds key support

HMD introduces latest range of feature phones to Sri Lanka

CSE opens the week lower as broad-based selling offsets strong institutional activity

Crossings dominate market activity as ASPI extends decline

Latest News

Singer “Chili” fined for attempted assault on police officers

Sri Lanka’s exports surpass US$9 billion in first half of 2026

China ready to work with Sri Lanka to build strategic trust: Chinese Ambassador

Wildlife holiday bungalows to be upgraded

Toxic alcohol addiction changes brain chemistry: Psychotherapist