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Primary Sources
President issues gazette, pruning Port City tax concessions
News By Namini Wijedasa In accordance with the International Monetary Fund’s (IMF) guidelines, President Anura Kumara Dissanayake, in his capacity as Finance Minister, has issued a gazette reducing the duration and scope of tax exemptions and incentives granted to businesses investing in the Colombo Port City. The revision applies to both “primary businesses of strategic importance” (PBSIs) and “secondary businesses of strategic importance” (SBSIs), representing a reduction in the incentives granted through the last regulations gazetted in August 2023. Read more today's the Sunday Times edition here Comments Still No Comments Posted.
Port City, BOI eye Gulf-linked inflows as CoPF flags delays and policy ...
Port City, BOI eye Gulf-linked inflows as CoPF flags delays and policy gaps, as Sri Lankan authorities seek to capitalise on shifting regional dynamics while addressing structural bottlenecks in investment facilitation. Port City, BOI eye Gulf-linked inflows as CoPF flags delays and policy gaps in approvals Officials from the Colombo Port City Economic Commission and the Board of Investment of Sri Lanka told the Committee on Public Finance (CoPF) that ongoing geopolitical tensions in the Middle East could present a window of opportunity to attract foreign investment into Sri Lanka. The focus is particularly on businesses seeking alternative operational bases, including firms linked to the United Arab Emirates. Initial outreach efforts are expected to target sectors such as business process outsourcing and disaster recovery operations, especially those connected to UAE-based companies. Authorities indicated that engagement would be conducted through the Ministry of Foreign Affairs and Sri Lanka’s diplomatic missions in Gulf countries, with the aim of positioning both Port City and the broader economy as viable investment destinations. The Port City, BOI eye Gulf-linked inflows as CoPF flags delays and policy gaps strategy reflects an attempt to align Sri Lanka’s investment promotion efforts with evolving regional trends. However, members of CoPF raised concerns that delays in approvals and weak institutional coordination could undermine the country’s ability to seize these opportunities in a timely manner. A key issue highlighted during the discussions was the absence of a formal coordination mechanism between the Port City Commission and the BOI. While officials acknowledged that interactions currently occur on a case-by-case basis, proposals have been put forward to establish regular engagement between the two agencies to improve efficiency and consistency. Regulatory dependencies were also identified as a significant constraint. For instance, approvals for offshore banking operations require clearance from the Central Bank of Sri Lanka, while certain import-related approvals fall under other regulatory bodies. These multi-layered processes have contributed to delays that are often beyond the direct control of the Port City Commission or the BOI. The Port City, BOI eye Gulf-linked inflows as CoPF flags delays and policy gaps discussions also pointed to administrative inefficiencies, including reliance on manual processes and repeated requests for d...
Current Notices - Ministry of Industry and Entrepreneurship Development
The Ministry of Industries and Entrepreneurship Development in collaboration with National Cleaner Production Centre, Sri Lanka (NCPCSL) envisages conducting Resource Efficient Cleaner Production (RECP) Assessments and Capacity Building Training for selected local Industries to ensure sustainable use of energy, water, material consumption and ...
Presidential Communications Office - PCO
The PCO is the lead communications arm of the Government and a vehicle of understanding for a well-informed and enlightened citizenry, proud of its heritage and attuned to global realities.
