Colombo Port Commission Bill expedited | Daily News

Colombo Port Commission Bill expedited

The Cabinet, therefore, approved a proposal by President Gotabaya Rajapaksa to instruct the legal draftsman to draft Colombo Port Commission Bill in accordance with the structure by the Government to meet national requirements and to attract international investors.

“The Colombo Port City will be made a Specialized Economic Centre with a wide scope of services to the Indian subcontinent and Southeast Asia and an excellent regional hub aimed at a service economy in line with “Vistas of Prosperity and Splendour” the Government’s Policy Statement.

“For this purpose, an active environment that can compete with investment hubs such as Dubai, Singapore, and Hong Kong will be created by attracting Investors, Entrepreneurs, Innovators, Companies, Financial Institutions through a well-structured and competitive legal, tax and regulatory, and dispute resolution mechanism,” the Cabinet proposal said.