The Ministry of Finance, Planning and Economic Development states that investments worth US$600 million have been secured for the Colombo Port City during the first quarter of this year alone.
Among these investments are three development projects launched by Marina Hotel Holdings Limited and Prime Melva Port City Limited.
The Ministry notes that the new government has enacted the Colombo Port City Economic Commission Act, which has contributed significantly to enhancing the investment attractiveness of the Colombo Port City.
To further facilitate investments, the Colombo Port City Economic Commission has introduced a single-window investment facilitation mechanism. Under this system, investors are no longer required to visit multiple government institutions to establish a business. Instead, all necessary approvals can now be obtained through a single platform.
In addition, the Commission has implemented a fast-track investment facilitation programme, enabling investors to complete their registration as authorised persons within seven days.
The programme also allows agreements to be executed digitally. Furthermore, visas for foreign employees can be approved within five working days, subject to the relevant expedited processing requirements.
