Colombo Port City to be positioned as global hub for IT and BPO firms

In line with the Government’s vision to establish a USD 15 billion digital economy by 2030, Colombo Port City is offering the destination to be also positioned as a global hub for IT and BPO firms simpler to Dubai and Singapore.

Many global IT and BPO firms prefer to invest in these countries due to their favourable conditions, such as the ability to pay employees in USD, tax breaks, political stability, and robust economies.

The Colombo Port City too has recognised this opening and has developed a regulatory framework and strategic incentives that mirror these advantages.

“It now stands as a compelling option for global businesses seeking to expand in South Asia, as well as a home-grown solution for Sri Lankan businesses looking to broaden their regional or global footprint,” an official said.

The recent Colombo Port City banking regulations introduced, provide further assurance to investors by safeguarding capital inflows and outflows, ensuring a secure environment for business operations.

This environment is designed to channel new foreign direct investments (FDI) into Sri Lanka, directly supporting the local economy and creating new avenues for growth. Currently, the Colombo Port City Economic Commission (CPCEC) public registry lists 79 Authorized Persons (APs), including both primary and secondary investors. These registered APs include prominent global entities from India, the United Arab Emirates, Singapore, the United Kingdom, Norway, and the United States, underscoring the SEZ’s international appeal and its potential to become a regional hub across key service sectors.

Additionally, over 100 companies are actively considering operations within the Economic Zone (SEZ). Unlike other zones in Sri Lanka governed by the Board of Investment (BOI), the Colombo Port City SEZ’s policies are uniquely tailored to link benefits directly to foreign earnings, export services, and new business ventures.

This ensures that only companies genuinely committed to new investments can access the SEZ’s benefits, rather than simply relocating to exploit tax incentives. The SEZ’s competitive tax incentives and modern regulatory framework are designed to attract high-value FDI, promote innovation, and foster sustainable economic growth. By focusing on genuine new investment,

Colombo Port City aligns its growth with Sri Lanka’s broader economic goals of driving innovation, entrepreneurship and employment generation. Colombo Port City presents a significant growth opportunity for both local and international investors seeking to expand their global services.

“With its emphasis on single window investment facilitation for the ease of doing business, attracting strategic investments, and fostering a modern and secure business environment, the SEZ is well-positioned to become South Asia’s premier financial and business hub.”