Port City Colombo is playing a pivotal role in accelerating the development of Sri Lanka’s IT industry, aligning with the Government’s ambitious goal of creating a $15 billion digital economy by 2030. As the country aims to establish itself as a leading tech hub in South Asia, Port City Colombo is focused on attracting major global technology firms to set up business operations, enhancing job creation, and fostering a globally competitive regulatory environment.
Currently, 40 of the 126 companies registered as Authorised Persons (APs) within Port City Colombo represent top-tier brands from the global IT industry. The upcoming Business Centre, set to open by Q1 2025, will provide state-of-the-art workspaces for IT companies, promoting innovation in areas such as Artificial Intelligence (AI) and advanced technology.
As a Special Economic Zone dedicated to modern services exports, Port City Colombo has forged key partnerships with apex IT associations to lead the growth of the IT and IT-enabled services sector. These collaborations include its ongoing work with the Sri Lanka Association of Software and Service Companies (SLASSCOM) and an MoU with TRACE Sri Lanka, which promotes tech-driven collaboration and innovation.
The focus on the Indian market has also led to a partnership with the National Association of Software and Service Companies (NASSCOM), with Port City Colombo participating in NASSCOM events such as the Technology and Leadership Forum (NTLF) and the Future of Work leadership forum.
Port City Colombo offers a highly attractive business environment for IT investors, providing fiscal and non-fiscal incentives like 25-year tax exemptions, foreign currency transactions, 100% foreign ownership, and profit repatriation. Companies interested in establishing operations must qualify as Authorised Persons under the Colombo Port City Economic Commission (CPCEC).
With these strategic developments, Port City Colombo is well-positioned to harness a thriving digital economy and support Sri Lanka’s sustainable, inclusive growth. Interested investors can learn more at www.portcitycolombo.lk and review regulatory details at www.portcitycolombo.gov.lk.