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Port City Economic Targets
Projected economic impact of new strategic businesses
Primary Sources
Port City Colombo turns 11: Developer reaffirms commitment to progress ...
Says 27 ‘Primary Businesses of Strategic Importance’ successfully initiatedCHEC Port City Colombo Ltd., the master developer of Port City Colombo, has reaffirmed its commitment to attracting foreign direct investment (FDI) into Sri Lanka and delivering further infrastructure milestones, as the project enters a new era of commercial operations and vertical development.CHEC Port City Colombo Managing Director Xiong Hongfeng said: “Since its commencement in 2014, Port City Colombo’s strategic vision has always been centred on the betterment of the Sri Lankan community and the advancement of the country’s economy. The sheer scale and magnitude of this 269-hectare strategic venture reflects our confidence in Sri Lanka’s potential to become a formidable regional player in South Asia, whilst building a future that all Sri Lankans could aspire to.”Being a project of national and regional significance, Port City Colombo has showcased remarkable resilience and endurance throughout several challenging circumstances. Since its inception 11 years ago, Port City Colombo has witnessed fluctuating environmental conditions from political transitions and the impact of the 2019 Easter Sunday attacks, to the unprecedented global disruption of the COVID-19 pandemic and the 2022 economic crisis. Despite these headwinds, the project has remained firmly on course with the strategic aim of becoming a transformative world-class investment destination in South Asia. Further, as a subsidiary of China Harbour Engineering Company (CHEC), which has delivered landmark construction projects in Sri Lanka since 1998, the master developer remains steadfast in its commitment to supporting the nation’s long-term economic development. Since the completion of land reclamation in 2019, Port City Colombo has marked several significant milestones that reinforce the project’s positive outlook as a competitive regional investment hotspot. This includes the Colombo Port City Economic Commission Act in 2021, which was duly passed with bipartisan support by the Parliament of Sri Lanka. The Colombo Port City Economic Commission Act established the Colombo Port City Special Economic Zone, a progressive regulatory environment that enhances the ease of doing business for international investors in Sri Lanka. This has fostered the development of a vibrant business ecosystem that now encompasses 146 registered enterprises that are dedicated to modern service exports. On 17 October 2025, marking a key infrastr...
Exclusive Port City Colombo Investor Forum Highlights Sri Lanka'S ...
Sri Lanka presented a clear message of confidence, reform, and long-term opportunity at the Exclusive Port City Colombo Investor Forum held on 27th January 2026 at the Shangri-La Hotel, Singapore. Jointly organised by the High Commission of Sri Lanka in Singapore and Port City Colombo, the forum positioned Port City Colombo as the centrepiece of Sri Lanka’s next phase of economic transformation.The Exclusive Investor Forum brought together close to 100 senior invitees from across real estate, financial services, investment and asset management, IT and digital services, professional services, and regional business leadership, reflecting broad-based interest in Port City Colombo’s services-led investment proposition.Opening the forum, H.E. Senarath Dissanayake, High Commissioner of Sri Lanka to Singapore, underscored Sri Lanka’s commitment to strengthening economic engagement with Singapore and regional partners, noting that Port City Colombo reflects the country’s readiness to integrate more deeply with global markets under internationally aligned standards.Delivering the keynote address, H.E. Hanif Yusoof, Presidential Special Envoy for Foreign Investment and Governor of the Western Province, stated that Sri Lanka today is “not a recovery story, but a transformation story”, with Port City Colombo serving as a platform for that transformation to become tangible. He highlighted Sri Lanka’s rapid economic turnaround following the most severe crisis in its history. He noted stabilised inflation, renewed growth, strengthened foreign reserves, and restored macroeconomic confidence, a recovery recognised by international institutions as among the fastest in recent times.The Special Envoy emphasised Sri Lanka’s commitment to long-term reform, institutional independence, and economic discipline. He pointed to constitutional guarantees and legal reforms, including the establishment of an independent Central Bank, strengthened fiscal and debt management laws, and a transparent, rules-based economic framework that enhances predictability and investor confidence.He further noted that Sri Lanka offers a clear and familiar investment environment, anchored in common law traditions, bilateral investment protection treaties, double taxation avoidance agreements, and full recognition of international arbitration, providing investors with the freedom to repatriate capital and access international dispute-resolution mechanisms.Special Envoy Yusoof echoed these sentiments durin...
Six Colombo Port City firms get strategic business status
The Cabinet of Ministers at their meeting on Monday approved the designation of six companies as Businesses of Strategic Importance under the Colombo Port City Economic Commission in terms of the Colombo Port City Economic Commission Act, No. 11 of 2021, enabling them to receive incentives and concessions provided under the law. ..
Downtown Duty-Free mall at port city Colombo geared up for opening as ...
Port City Colombo announced that China Duty Free (CDF) and One World Duty Free (ODF) have been granted status as Businesses of Strategic Importance (BSI) by the Cabinet, according to an official Cabinet media statement released on 10th July 2024. This approval paves the way for the commencement of travel retail operations at the upcoming Downtown Duty-Free Mall. Discussing the significance of ...
