Port City Colombo has reached a key milestone, successfully onboarding over 100 companies as Authorised Persons (APs) by 24 August 2024. These companies span a wide array of sectors, including IT, finance, logistics, shipping, healthcare, tourism, real estate development, and global capability centres. This development positions Port City Colombo as a crucial player in attracting foreign direct investments (FDIs) to Sri Lanka.
Twenty-two of these companies have been designated as Businesses of Strategic Importance (BSIs), and several more are under review by the Colombo Port City Economic Commission (CPCEC). The influx of companies registering as APs demonstrates growing investor confidence in the Colombo Port City Special Economic Zone (SEZ).
Several major banks, such as Sampath Bank, Commercial Bank of Ceylon, Hatton National Bank, and others, have applied to establish offshore banking branches in the SEZ, in line with the new offshore banking regulations. These moves are set to create demand for up to 50,000 square meters of office space, with the Business Centre—a major IT and commercial hub—set to launch in November 2024.
Port City Colombo offers businesses and investors an attractive regulatory environment, including tax exemptions, foreign currency transactions, and 100% capital repatriation. Positioned as Sri Lanka’s future economic driver, Port City Colombo is poised to attract significant FDIs and become a vital hub for global business operations.
For more information on investment opportunities, visit www.portcitycolombo.lk. For regulatory details, visit www.portcitycolombo.gov.lk.