By:Staff WriterColombo (LNW): Colombo Port City is destined to become a major economic hub in the South Asian region bringing renewed hope for economic growth and potential for major investments, Former British Prime Minister, David Cameron pronounced.
Delivering the keynote address at the recently concluded Port City Colombo UAE Road Show, he unveiled its potential drawing the attention of numerous global investors and dignitaries to the immense investment and business opportunities that this visionary project presents.
The event served as an exceptional platform for fruitful discussions and an opportunity to showcase the abundant and diverse prospects at CPC.
Colombo Port City is a visionary multibillion-dollar 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 at Galle Fcace Green, it will offer a cosmopolitan lifestyle, world-class infrastructure, and sustainable living, he highlighted.
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.
In addition, CPC’s regulatory framework aligns with global standards and has brought in a transparent and business-friendly environment.
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”.
The former British PM shared his keen insights about special economic zones like PCC, highlighting their massive potential for success and boosting the economies of their host countries.
He used the Dubai International Financial Centre, Singapore and many other examples to clearly illustrate the emerging opportunities.
The event also provided an opportunity for Port City representatives to directly and clearly communicate to investors about the incentive programs available.
Overall, Cameron’s remarks resonated well with the gathering of investors and other dignitaries, highlighting the transformational potential of Port in South Asia and the wider Indo-Pacific.
He went on to discuss Sri Lanka’s geographic advantage, being at the centre of a population of about 3.2 billion people in the Indo-pacific and just 40 km away from India, at the closes point between the two nations.
With that, CPC could attract investors from around the world and could possibly evolve to become a centre of investment in the future.
Hence, for a country like Sri Lanka, it is extremely important to draw inspiration from Asian countries and translate the economic concepts and models to better work in a local context, he added.