Home » Government Targets $4.1 Billion Investment for Port City; $2.1 Billion Already Secured

Government Targets $4.1 Billion Investment for Port City; $2.1 Billion Already Secured

written by NHL Werasinghe Source

Deputy Minister of Industry and Entrepreneurship Development Chathuranga Abeysinghe stated that the government aims to attract an additional USD 4.1 billion in investments to the Colombo Port City over the next five years, with USD 2.1 billion already secured.

He noted that Port City was highlighted as a major investment opportunity during a recent investment summit held in Australia. A number of leading international companies, including Ansell, Horizon Group USA, IGT1, KPMG, and GAC Services, have already joined and commenced operations at Port City.

The Deputy Minister further mentioned that previously granted excessive tax concessions have been revised to align with international standards. Beyond tax incentives, high-speed internet infrastructure, Sri Lanka’s strategic location, and a lower cost of living compared to hubs like Dubai or Singapore serve as major advantages for attracting foreign investors.

Additionally, construction is currently underway for two major housing projects, three mixed-development projects, a hotel, and a conference hall at Port City.

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written by NHL Werasinghe Source

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