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Sri Lanka’s Prime Minister breaks ground for Business Centre at Colombo Port City

Sri Lanka’s Prime Minister breaks ground for Business Centre at Colombo Port City

The Morning: Prime Minister Dinesh Gunawardena said the Business Centre of Colombo Port City stands as “a testament to our ambitious vision” of making Sri Lanka a “thriving business hub and a vibrant” maritime cluster.
Speaking at the ground breaking ceremony of the Business Centre of Colombo Port City, on 12 March, he described it as the most significant event marking the advent of Sri Lanka’s most ambitious development project in recent times.
“Colombo Port City is a visionary multibillion-dollar project that aims to redefine Sri Lanka’s economic and social landscape. Built on reclaimed land, adjacent to the heart of Sri Lanka’s capital, Colombo, PCC will offer a cosmopolitan lifestyle, world-class infrastructure, and sustainable living,” he said.
Pointing out that Sri Lanka has been a historic hub for trade and investment for thousands of years, the Prime Minister said the biggest advantage of our country is its strategic location. “We also offer an ideal environment for businesses to innovate. Sri Lanka is destined to become a major economic hub in the region and, I am confident, the Port City of Colombo will certainly accelerate that process,” he said.
Premier Gunawardena emphasised that with the reforms we have enacted, the PCC becomes one of the easiest places to do business in the region, further cementing its prospects as the ‘Gateway to South Asia’ and Central hub for East and West.

OSL take:
Sri Lanka’s Port City Project in Colombo is aimed at taking the country to the next level of development. With Sri Lanka fast becoming a regional hub supported by the country’s strategic positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed with other countries, there’s expanding economic activities in the country. All this means an expansion of business/investment opportunities covering all key economic sectors in the country. It is in such a backdrop that the Colombo Port City Project has broken ground on the new business center that would present office spaces to foreign businesses/investors looking at doing business with Sri Lanka. Given the growth and business potential in Sri Lanka as well as the possibility of using the country’s trade ties in the region that could be used by foreign businesses/investors to engage with these countries, it would be advantageous for foreign businesses to set up base in Sri Lanka.

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Article Code : VBS/AT/20240325/Z_1

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