Two investors have positively responded to invest over USD 100 million in the Colombo Port City and the Cabinet approval has been granted to them as a Primary Business of Strategic Importance.
The first proposal has been submitted by Asiri Port City Hospital (Pvt) Company to implement a project to develop a hospital in the Port City of Colombo under an investment of USD 100 million.
The project qualifies for exemptions or incentives under 2(b) of Colombo Port City (Guidelines on the Grant of Exemptions or Incentives to Businesses of Strategic Importance) Regulations, No. 2 of 2023.
Accordingly, the proposal presented by the President in his capacity as the Minister of Investment Promotion to grant relevant exemptions or incentives to that project under the said provisions, and to announce the project as a primary business of strategic importance through a gazette order, and then table the said order in the Parliament, was approved by the Cabinet of Ministers.
The second investment has been submitted by TIQRI Software PTE Ltd to implement an Information Technology Business in the port city of Colombo with an initial foreign direct investment of US$100,000.
The project qualifies for exemptions or incentives under 2(b) of Colombo Port City Act.
Accordingly, the proposal presented by the President in his capacity as the Minister of Investment Promotion to grant relevant exemptions or incentives to that project under the said provisions, and to announce the project as a secondary business of strategic importance through a gazette order, and then table the said order in the Parliament, was approved by the Cabinet of Ministers.
