Invest Sri Lanka – Retire Sri Lanka’, which is an event that is focused on attracting investment to Sri Lanka, was held in Singapore recently.
The event served as the backdrop for the signing of a Memorandum of Understanding (MoU) between the Singapore Sri Lanka Business Association and Port City Colombo.
‘Invest Sri Lanka – Retire Sri Lanka’ was organised by the Singapore Sri Lanka Business Association (SLBA) with the backing of the High Commission of Sri Lanka in Singapore.
This event provided a platform for in-depth discussions on investment opportunities in Sri Lanka, predominantly in burgeoning sectors such as technology, sustainable agriculture, real estate, healthcare, and manufacturing. It also addressed the concerns and critical questions of those considering Sri Lanka as a destination for travel, investment or retirement.
The event notably, featured distinguished speakers including Dr. Nandalal Weerasinghe, Governor of the Central Bank of Sri Lanka and Ahamed Razee, Acting High Commissioner of the High Commission of Sri Lanka in Singapore, who played significant roles in presenting valuable insights and perspectives.
Deputy Managing Director of Port City Colombo, Thulci Aluwihare, presented the investment opportunities within the Port City Colombo Special Economic Zone with a special focus on thrust sectors such as information technology and business process outsourcing (IT/BPO) sectors. Their collective insights shed light on the opportunities awaiting investors in Sri Lanka’s high-growth sectors.
At the official signing of the MoU, representing the SLBA were Lakshanthi Fernando, President; Sharlyn Stafford, Secretary; Angelo Perera, Past President and Senaka Tiranagama, Past President. Port City Colombo was represented by Thulci Aluwihare, Deputy Managing Director; Radika Obeyesekere, Director Investment Promotions and Marketing, Shalaka Wijeratne, Executive Director – Investment Promotions and Marketing and Stan Li, General Manager – Investment Promotions and Marketing.
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Port City Colombo’s cosmopolitan lifestyle, sustainable living environment and world-class infrastructure were also showcased under the forum’s ‘Retire in Sri Lanka’ segment with heightened interest expressed by the Sri Lankan diaspora. Presenting the Cinnamon Life proposition was Head of the Property Group of JKH – Nayana Mawilmada.
The next phase of development of Port City Colombo is driven by a five-year plan aimed at revitalising Sri Lanka’s economy through FDIs. This plan calls for a substantial US$ 5.6 billion in FDI, a move that will position Sri Lanka as a leader in the global service export market.
The SEZ also aims to contribute a staggering US$ 13.8 billion to Sri Lanka’s annual GDP and generate over 140,000 direct job opportunities. A projected fiscal revenue of US$ 1.7 billion is expected during the construction phase with an annual recurring revenue of about US$ 700 million during the operational phase.
