Sri Lankan Government approves Strategic Status for 68 businesses operating in Colombo Port City
Daily FT: The Cabinet of Ministers has approved a proposal to submit to Parliament regulations designating 68 businesses operating within the Colombo Port City as secondary businesses of strategic importance.
The 68 businesses operate across a range of sectors, including information technology, consultancy services, business process outsourcing, logistics, infrastructure, hybrid and integrated business models, and other general business activities, reflecting the expanding commercial activities within the Colombo Port City.
The designation was approved at the Cabinet meeting held on 30 March 2026, under the provisions of the Colombo Port City Economic Commission Act, No. 11 of 2021.
Following the Cabinet approval, regulations giving effect to the designation were published through an Extraordinary Gazette dated 10 April 2026. The regulations are to be submitted to Parliament for approval in accordance with the relevant provisions of the Colombo Port City Economic Commission Act.
The proposal to this effect was submitted by President Anura Kumara Dissanayake, in his capacity as the Finance, Planning and Economic Development Minister.
OSL take:
The expansion of businesses operating within Colombo Port City is strengthening its potential to become a major international business and investment hub, creating new business/investment opportunities for foreign companies as Sri Lanka seeks to move towards a higher-value, services-driven economy. The Cabinet’s approval to designate 68 businesses in the Port City as secondary businesses of strategic importance highlights the growing diversity of commercial activity, spanning IT, consultancy, BPO, logistics, infrastructure and integrated business services. For foreign investors, the development creates opportunities to establish regional headquarters, technology and outsourcing centres, financial and professional services operations, logistics businesses and export-oriented service companies. The Port City’s potential as a platform connecting South Asia with international markets could be particularly attractive to businesses seeking a regional base. Business/investment opportunities are also likely to expand into commercial real estate, hospitality, retail, education, healthcare, fintech and other knowledge-based services as the development matures. For Sri Lanka, Port City represents more than a property development. Its long-term objective is to create a globally connected business ecosystem capable of attracting foreign capital, high-skilled employment and international companies, helping diversify the economy and position Colombo as a competitive regional business centre.
| Article Code : | VBS/AT/20260908Z_4 |