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Investment

Colombo Port City to be part of Asia's growth story: Sri Lankan state minister

June 10, 2021


Abstract : Sri Lanka's Colombo Port City project will be a part of Asia's growth story and investors from around the world are invited to participate, State Minister of Money and Capital Markets and State Enterprise Reform Ajith Nivard Cabraal said here Wednesday.

COLOMBO, June 9 (Xinhua) -- Sri Lanka's Colombo Port City project will be a part of Asia's growth story and investors from around the world are invited to participate, State Minister of Money and Capital Markets and State Enterprise Reform Ajith Nivard Cabraal said here Wednesday.

Delivering the keynote speech on the third day of the Sri Lanka Investment Forum (SLIF), Cabraal said, "Wherever you are in the world today, please come look at the potential of the Port City... It is part of the growth story of Asia that we don't want you to miss."

The SLIF is a three-day virtual event organized by Sri Lanka's Board of Investment, the Ceylon Chamber of Commerce, and the Colombo Stock Exchange to attract high-quality investors from around the world. The event showcases investment opportunities in the country and provides investors with an opportunity to network with local policymakers and businessmen.

Cabraal said that with land reclamation, basic infrastructure and the legal framework of the Port City in place, the priority for the government is to ensure a steady inflow of investments. "In the next five to six years, it (the Port City) can generate as much 15 billion U.S. dollars into Sri Lanka's gross domestic product (GDP)," Cabraal said.

Cabraal said that Colombo Port City will provide massive opportunities for employment and investment. "This will be a wonderful showcase to the world of how we are doing business," he said.

The Port City Colombo is a joint venture between Sri Lanka and China to develop a service-oriented Special Economic Zone (SEZ) in 269 hectares of land reclaimed from the ocean and annexed to the city of Colombo. Enditem

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Keyword: Sri Lanka Colombo Port City

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