Port City Colombo to be South Asia’s leading fintech hub
Daily FT: Port City Colombo is being encouraged to become a vibrant regional hub for fintech innovation and investment in South Asia.
CHEC Port City Colombo Managing Director Xiong Hongfeng this week received the report “Enhancing Port City Colombo as a Leading Fintech Hub in South Asia” from Fintech Association of Sri Lanka (FASL) Founding President and coordinator of the initiative Rajkumar Kanagasingam, during the FinTech World Cup (FWC) Regional Competition held at Port City Colombo. The initiative is supported by a number of fintech experts from around the world, with University of Hong Kong Kerry Holdings Professor in Law Prof. Douglas Arner serving as the chief consultant.
The FASL, an ecosystem partner of the Dubai International Financial Centre (DIFC) Innovation Hub and the Global Finance and Technology Network (GFTN) — formerly Elevandi, established by the Monetary Authority of Singapore (MAS) — supports Port City Colombo in aligning with global fintech hubs like Dubai and Singapore. At the centre of this vision is the proposed Colombo International Financial Centre (CIFC) Fintech Innovation Hub. Designed to attract global investment and foster start-up growth, the hub could begin operations using Colombo’s Central Business District as a temporary base while Port City Colombo infrastructure continues development.
The hub will offer fintech startups access to global markets, capital, and mentorship. Modelled after successful ecosystems like Dubai’s DIFC and Singapore’s fintech framework, the CIFC aims to establish Port City Colombo as a key fintech destination in South Asia.
Port City Colombo is uniquely positioned to become South Asia’s fintech gateway. Unlike more fragmented regulatory landscapes in markets like India — where start-ups must navigate multiple agencies — the CIFC proposes a unified, streamlined system.
With investor-friendly policies and tax incentives, the CIFC can attract regional start-ups, including Indian fintechs, many of which are already active in Dubai’s DIFC. The CIFC offers these firms a complementary location with centralised regulation and expanded market access.
OSL take:
Sri Lanka’s Port City in Colombo is expected to take the country into the next level of development with its futuristic outlook. With Sri Lanka working towards becoming a hub in the South Asian region, there’s much focus on the country with foreign businesses/investors currently viewing it as an emerging business destination. The country’s geographical positioning in the Indian Ocean, the strong trade ties enjoyed with many foreign countries and the overall economic expansion recorded by Sri Lanka have all added to the country’s growing attraction as a business/investment destination. It is in such a backdrop that the Colombo Port City is fast-becoming a key attraction for foreign businesses/investors to set up bases in the region. Sri Lanka continues to figure prominently in the trade plans of many countries including China. Given all factors related to Sri Lanka and the increasing business potential in the country, the business/investment opportunities presented by the country, especially in the Colombo Port City, could present many lucrative business ventures for foreign businesses/investors.
| Article Code : | VBS/AT/20250430/Z_1 |