New laws to give effect to the Colombo International Financial City (CIFC) will be presented to Parliament early this year, Prime Minister Ranil Wickremesinghe said.
He was speaking to the media following an inspection tour of the Colombo Port City Development Project yesterday along with Western Development and Megapolis Minister Patali Champika Ranawaka, Finance State Minister Eran Wickremaratne and Policy Planning and Economic Development Deputy Minister Dr Harsha de Silva.
The Prime Minister said the Port City would help attract much needed foreign investment to the country, adding that the new modern city would mainly provide legal and commercial services and be able to house about 200,000 people.
He observed that the Port City would help achieve the target of becoming the hub in the Indian Ocean and give a new lease of life to the country’s debt-ridden economy.
The Port City will come under the Colombo Municipal Council and it includes an underground tunnel, light rail connecting to Kollupitiya, elevated port access road, a public urban park extending to a larger area and several high rise buildings.
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