Monday, 17 May 2021 03:16 GMT

Colombo Port City Special Economic Zone to break ground in mid-2021

(MENAFN - NewsIn.Asia) Colombo, January 5 (Xinhua):  The Colombo Port City and the Hambantota Port will attract foreign investments to Sri Lanka and boost growth in 2021, the governor of the Central Bank of Sri Lanka (CBSL) said on Monday.

Delivering a virtual address titled Road Map 2021, CBSL Governor W.D. Lakshman said Sri Lanka-China joint projects like the Colombo Port City and the Hambantota Port would attract "a sizable flow of foreign capital into the country."

"It is expected that the rapid development of the Colombo Port City Special Economic Zone, of which the commercial and retail asset components are set to break ground in mid-2021, would catalyze growth performance in the financial sector," Lakshman said.

Hambantota Port: Photo/Xinhua

He said the CBSL would work with the government to operate a regulatory framework for the Colombo Port City Special Economic Zone which is expected to be introduced by an Act of Parliament later this year.

"Such joint work will ensure the seamless cohabitation of the national financial sector regulatory framework with the expected special legislation covering the international financial center in the Port City," he said.

(The picture at the top shows the Colombo Port City. Photo: Xinhua)

Central Bank Colombo Port City Hambatota Port Sri Lanka


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