Gazette notification stipulating regulations pertaining to Port City to be issued soon

The Gazette notification stipulating the laws and regulation pertaining to the Colombo Port City Development Project will be issued in a couple of days, the Investment Promotion State Minister Dilum Amunugma said during a site visit to the Port City yesterday. 

Addressing the media, the State Minister said, “Sri Lanka is benchmarking with global standards and is in the process of promoting ease of doing business and thereby make Port City another Dubai and Singapore.”

“In this context, the completion of drafting the Gazette is a huge achievement, which will help the investors get a clearer picture about the laws and regulations so as to commence operations at the Port City and accelerate ongoing projects.”

Responding to a query posed by media personnel as to why investors show reluctance in investing in the Port City Project, the State Minister said, “It is imperative that we as the government set the tone and create a conducive environment for investors to invest in the project, which is the largest ongoing project in Sri Lanka,”

“That’s the very reason why we considered this as a priority and thus decided to finalise drafting the Gazette,” he stressed.

Board of Investment (BOI) Chairman and the Executive Project Management Director of the Colombo Port City Development Project Raja Edirisuriya, BOI Director General Renuka M. Weerakone, Colombo Port City Economic Commission Acting Director General Priyath Bandu Wickrama and other Ministry officials were also present at the occasion.