It is reported that foreign investors have not purchased any of the 74 plots of land allocated for investment projects in the Colombo Port City Project.
Only 06 of them have been bought by a local investment company, but they have not done any construction work so far.
A senior official of the project said that the political instability in the country and the political pressure on officials dealing with the Colombo Port project have mainly affected this.
The official also mentioned that due to this situation, it will take a long time for the Colombo city project to be opened to tourists.
Meanwhile, a special gazette has been issued on the 28th last month with the signature of Mr. Ranil Wickramasinghe as the Minister of Finance, Economic Stabilization and National Policy regarding the investors carrying out investment activities in Colombo Port City.
According to the gazette announcement, the Colombo Port City Economic Commission has decided to charge an annual fee of US$ 2,000 for the issuance of operating licenses from investors applying for investment here.
This license is issued for a period of 12 months ending on 31st March every year.
The Colombo Port City Economic Commission has informed that after evaluating the submitted applications, if they comply with the conditions, the relevant operating licenses will be approved, and the investors must also comply with the regulations of the Central Bank.
Permitted investors are allowed to conduct business within and outside the Colombo Port City area. –
(Curtesy The island)
