Lord Swire, Deputy Chairman of The Commonwealth Enterprise and Investment Council (CWEIC), Visits Port City Colombo

Port City Colombo, Sri Lanka’s first multi-service Special Economic Zone, recently hosted Lord Swire, Deputy Chairman of the Commonwealth Enterprise and Investment Council (CWEIC) to an exclusive session on the project’s attractive investment opportunities and economic potential within the South Asian regional sphere. He was accompanied by CWEIC officials including Niro Cooke, Country Chair - Sri Lanka and Group Director, The Capital Maharaja Organisation, Pamela O’Leary, Board Member, and Deshan Gonawela, Country Director. The delegation was welcomed by Revan Wickramasuriya, Director General, the Colombo Port City Economic Commission, and Thulci Aluwihare, Deputy Managing Director, CHEC Port City Colombo (Pvt) Ltd.

The visit encompassed a detailed presentation at the Port City Colombo Sales Gallery, where the delegation was briefed on the project progress and future projections as a competitive investment hotspot in the South Asia region. Port City Colombo’s key appeal to top investor markets including the Middle East and the Asia-Pacific, progressive regulatory environment that promotes the ease of doing business, and diverse options for investors, were the focal point of the presentation. The CWEIC delegation was also provided an experiential tour of the Mall at Port City Colombo, South Asia’s pioneering downtown duty-free retail offering, which is already contributing towards Colombo’s evolution as a hub for tourism and business.

‘Sri Lanka needs to show that it is open for Foreign Direct Investment,’ said Lord Swire, Deputy Chairman, CWEIC. ‘There are diverse opportunities, not just in the tea and tourism industry, but also within the scope of Port City Colombo’s Special Economic Zone, which is a truly exciting and ambitious initiative. The Commonwealth showcases some of the most diverse and fastest growing economies in the world, with prospective investors who will be interested in exploring the intriguing opportunities that Port City Colombo and Sri Lanka as a whole are bound to offer.’

Niro Cooke, Country Chair - Sri Lanka, CWEIC, and Group Director, The Capital Maharaja Organisation, further elaborated: ‘Sri Lanka has long been a sought-after tourism destination. However, we believe that Sri Lanka has the opportunity to evolve into a competitive diversified service-based economy, which could reinvent our nation into a truly formidable regional business hub. With FDI contributors such as Port City Colombo, a strengthened economic outlook, and strategic locality, Sri Lanka now has the right ingredients to become a progressive investment destination.’

As a CWEIC Strategic Partner, Port City Colombo has been actively involved in fostering investor relations across the Commonwealth. Port City Colombo recently participated in the Commonwealth Business Forum 2024 held in Apia, Samoa, where the project’s contribution towards sustainable economic growth and regional skilled mobility within South Asia was accentuated.

To learn more about the attractive investment opportunities at Port City Colombo, please visit www.portcitycolombo.lk. For information on Single Window Investment Facilitation and regulatory matters, please visit www.portcitycolombo.gov.lk.

ABOUT PORT CITY COLOMBO

Poised to redefine Sri Lanka’s economic and societal landscape, Port City Colombo is a visionary multi-billion dollar FDI-funded project located at the very heart of the South Asian region — the vibrant, thriving metropolis of Colombo in Sri Lanka. Positioned as the gateway to South Asia, it offers a unique combination of global investment opportunities, international business environments, world-class infrastructure, and sustainable yet cosmopolitan living. As a Special Economic Zone (SEZ), Port City Colombo will feature a business-friendly environment including tax incentives and exemptions for a 25+ year period for Businesses of Strategic Importance (BSI’s), and transactions in foreign currencies, with no capital or exchange controls, and up to 100 percent foreign ownership. With upcoming developments projected to break ground in 2025, Port City Colombo aims to emulate the successful economic models of Dubai or Singapore, whilst reinforcing the broader commitment to sustainability and liveability.

Press Contact

Rebekah Adams

Manager - Public Relations and Marketing Communications

CHEC Port City Colombo (Pvt) Ltd

+94 (0) 75 166 5578 | [email protected]

---- END ----