Port City Colombo spearheads growth of IT industry in Sri Lanka

Port City Colombo is progressively facilitating the growth of a robust digital ecosystem that would uplift the Sri Lankan economy. 

In line with the government of Sri Lanka’s vision to establish a US $ 15 billion digital economy by 2030, Port City Colombo aims to support the country’s ambitious growth targets by attracting leading technology companies from across the world to set up business operations. With a strong emphasis on enhancing job creation and providing a globally competitive regulatory environment, Port City Colombo is poised to support Sri Lanka’s emergence as a formidable tech hub in the South Asian region. 

Approximately 40 of the 126 companies currently on-boarded as Authorised Persons (APs) by Port City Colombo represent leading brand names from across the global IT industry, as of date. The Business Centre at Port City Colombo, a premier IT and commercial park, set to formally open by 1Q 2025, will also provide a contemporary work space where IT businesses could operate, exchange knowledge and drive new advancements in technology, including artificial intelligence (AI).  

Port City Colombo, a Special Economic Zone that prioritises the export of modern services, has engaged in integral partnerships with apex IT associations as part of the project’s efforts to lead the development of the IT/IT-enabled services sector. These include Port City Colombo’s ongoing collaboration with the Sri Lanka Association of Software and Service Companies (SLASSCOM), the national chamber for the knowledge and innovation (IT and BPM) industry in Sri Lanka with over 350 member companies. Additionally, Port City Colombo has signed a memorandum of understanding (MoU) with TRACE Sri Lanka, a leading organisation that promotes collaboration, creativity and entrepreneurship through technology and innovation across disciplines in Sri Lanka.

Due to the strategic focus on the Indian market, Port City Colombo has also fostered a special partnership with the National Association of Software and Service Companies (NASSCOM), which is an Indian non-governmental trade association and advocacy group that serves as a key entity within the Indian technology sector. The Port City Colombo team has already represented the project at two NASSCOM events -- the nasscom Technology and Leadership Forum (NTLF) and Future of Work thought leadership forum, which took place earlier this year. The afore-mentioned developments further augment the progressive business environment of the Colombo Port City Special Economic Zone, which provide attractive fiscal and non-fiscal incentives for prospective IT business investors.