Business

EDB and Port City Sign MoU to Attract Export-Oriented Businesses

CHEC Port City Colombo (Pvt) Ltd has taken a significant step towards attracting export-oriented businesses to Port City Colombo by partnering with the Sri Lanka Export Development Board (EDB). A memorandum of understanding (MoU) was recently signed between the Chairman of EDB, Dr. Kingsley Bernard, and the Managing Director of CHEC Port City Colombo (Pvt) Limited, Xiong Hongfeng, at a special ceremony held on April 26 at the Port City Colombo Sales Gallery.

The partnership aims to position Port City Colombo as a regional logistics/business hub and financial center in South Asia. Xiong Hongfeng highlighted the importance of this collaboration, stating that it will promote Port City Colombo as a strategic location for export-oriented businesses to establish operations, contributing to the economic development of Sri Lanka.

Dr. Kingsley Bernard expressed his optimism about the partnership, believing it will be a turning point for the Sri Lankan export community. He mentioned that the partnership will create awareness about the attractive fiscal and non-fiscal benefits available for local exporters, encouraging them to establish their trade/buying offices within the Colombo Port City Special Economic Zone.

This partnership will enable Port City Colombo and the SLEDB to work together seamlessly in promoting the Colombo Port City Special Economic Zone as an attractive commercial destination for export-oriented businesses. With Port City Colombo’s direct access to global markets and the expertise and support provided by SLEDB, the aim is to position Port City Colombo as a strategic logistics hub in the South Asia region, benefiting from its proximity to Middle East, Asia-Pacific, and South Asia markets.

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