Sri Lanka (Commonwealth Union)_ Port City Colombo reached a significant milestone with the commencement of its Business Center, marking the beginning of a new era in the region’s business landscape. Attended by Prime Minister Dinesh Gunawardena and Chinese Ambassador Qi Zhenhong, the groundbreaking ceremony symbolized the collaborative efforts between Sri Lanka and China in fostering economic development within the Colombo Port City. Scheduled for completion by the third quarter of 2024, the Business Center, spanning 120,000 square feet, is poised to redefine modern business infrastructure in the region, offering state-of-the-art facilities and amenities.
Also read: COMMON CURRENCY IN MUSLIM COUNTRIES
The Port City Colombo project, heralded as the largest Public-Private Partnership (PPP) and Foreign Direct Investment (FDI) initiative in Sri Lanka’s history, underscores the nation’s emergence as a key player in the technology and commerce sectors within the region. Designed to facilitate knowledge exchange and innovation, the project aims to attract top talent from across South Asia, further enhancing the region’s economic competitiveness. In addition to the groundbreaking ceremony, the event also marked the official induction of Authorized Persons (APs) into the Port City Colombo Special Economic Zone, emphasizing the strategic significance of the project in fostering economic growth.
Also read: EMBARKING ON `VIKSIT BHARAT 2047′
In his address, Prime Minister Gunawardena emphasized Sri Lanka’s strategic advantage in its geographical location and expressed confidence in the Colombo Port City’s potential to expedite the nation’s ascent as a regional hub. Acknowledging the government’s efforts to streamline business processes within the Port City, Gunawardena highlighted the ease of doing business in the area, facilitated by recent policy reforms. Gunawardena also expressed trust in the capabilities of the China Merchants Port Holdings Company (CMPH), a key partner in the development of the Port City project.
Chairman of the Colombo Port City Economic Commission, Dinesh Weerakkody, reiterated the commission’s commitment to providing a conducive environment for investment by centralizing approval processes. Looking ahead, Weerakkody announced plans to rename the Port City as the “Colombo Financial Center,” reflecting its evolving role in the region’s financial landscape. According to him, the Business Center within the Port City epitomizes Sri Lanka’s ambition to become a leading hub for technology and commerce, offering premium office spaces and modern work environments tailored to diverse business needs.
Furthermore, Prime Minister Gunawardena hailed the Business Center as a catalyst for growth, emphasizing its pivotal role in fostering a vibrant commercial ecosystem within the region. According to him, sustainability lies at the core of the Business Centre’s design, with a focus on offering environmentally friendly workspaces such as garden offices, co-working spaces, and low-density work areas. Gunawardena also outlined ongoing structural reforms aimed at revitalizing the economy and promoting accountability, underscoring Sri Lanka’s determination to reclaim its position as a key economic player in the region.
Expressing gratitude to China for its steadfast support, Gunawardena acknowledged the nation’s longstanding partnership, which has been instrumental in driving Sri Lanka’s development agenda forward over the past six decades. In closing, Prime Minister Gunawardena expressed gratitude to Chinese Ambassador Qi Zhenhong for China’s steadfast support in Sri Lanka’s development journey, spanning over six decades. He emphasized the collaborative efforts between Sri Lanka and China in realizing the vision of the Port City of Colombo and reaffirmed Sri Lanka’s commitment to fostering strong bilateral relations for mutual prosperity.
