Sri Lanka Approves Incentives To Businesses At Colombo Port City

Sri Lanka’s cabinet approved a proposal by President Ranil Wickremesinghe, to grant incentives to businesses with strategic importance that will commence operation at the Colombo Port City, a spokesman said here today.

Cabinet spokesman, Bandula Gunawardena, told reporters that, the Port City is an important part of Sri Lanka’s attempts to attract foreign investment, which is crucial to stabilising and modernising the economy.

Spanning 269 hectares of reclaimed land from the sea, the Port City will comprise five precincts, including the Financial District, Central Park Living, Island Living, the Marina and the International Island.

Primary and secondary businesses that are strategically important to the Port City have been identified, according to Gunawardena.

Source: Nam News Network (NNN)