A high-level Omani delegation’s visit to Port City Colombo has raised the prospect of a more structured investment corridor linking Oman, Sri Lanka and the wider South Asian market, as both sides seek to turn longstanding diplomatic ties into measurable commercial opportunities.
The delegation, led by His Excellency Pankaj Khimji, Advisor for Foreign Trade and International Cooperation at Oman’s Ministry of Commerce, Industry and Investment Promotion, included Omani Ambassador to Sri Lanka Ahmed Al Rashdi and Projects Division Director Moosa Al Kharusi.
The visit followed Port City Colombo’s engagement in Muscat earlier this year, where the Colombo Port City Economic Commission and CHEC Port City Colombo met Omani government and business stakeholders, including the Public Authority for Special Economic Zones and Free Zones and Invest Oman.
That sequence of reciprocal visits suggests the relationship is moving beyond promotional investment diplomacy towards the construction of a more formal economic link.
At the centre of the Colombo discussions was the proposed Oman–South Asia Investment and Trade Corridor. Officials explored bilateral investment opportunities, cooperation between the two countries’ special economic zones and the process for bringing Omani companies into Port City Colombo’s Special Economic Zone ecosystem.
The strategic proposition is significant. Rather than treating either country solely as an end market, both sides are positioning their economic zones as platforms for reaching larger regional markets.
Khimji made that point directly, arguing that Oman should be viewed as more than a market of approximately five million people, while Port City Colombo should similarly be seen as more than another investment destination. For Omani businesses, Sri Lanka could provide a base for accessing South Asia; for Sri Lankan businesses, Oman could provide a platform into wider markets.
Existing trade provides an indication of the relationship’s potential, although the figures also expose the scale of the opportunity. Bilateral trade turnover reached approximately US$223 million in 2022, compared with US$118 million in 2018. Khimji described the figure as a starting point rather than an ambition.
Port City Colombo is now attempting to translate that ambition into investment. The SEZ, established under the Colombo Port City Economic Commission Act of 2021, is being promoted as an internationally benchmarked platform governed by a dedicated regulatory framework.
Director General of Colombo Port City Economic Commission Revan Wickramasuriya stressed that investors would be treated equitably, with an emphasis on transparency, consistency and institutional credibility.
The timing is notable. Port City Colombo says more than 175 companies are now registered within the SEZ, while more than US$1 billion in investment was secured between the fourth quarter of 2025 and the second quarter of 2026.
The challenge now is whether high-level diplomacy can produce actual companies, capital and jobs. The Omani visit has created momentum. The next test will be whether the proposed corridor can move from speeches and roundtables to signed investments and operating businesses.
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