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FINANCIAL CHRONICLE™ » CORPORATE CHRONICLE™ » Sri Lanka Port City Commission Law approved for drafting

Sri Lanka Port City Commission Law approved for drafting

2 posters

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fireshelter

fireshelter
Associate Director - Equity Analytics
Associate Director - Equity Analytics
ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers had approved the drafting of a law to set up a Commission to oversee activities at Colombo Port City, which will be a special economic zone, the state information office said.
The Port City area is expected to have an business environment that can compete with hubs such as Dubai, Singapore and Hong Kong to draw in investors.
It will have competitive legal, tax, regulations and a dispute resolution mechanism.
The Cabinet of Ministers had approved a proposal Presented by President Gotabaya Rajapaksa to draft a Colombo Ports Commission Bill.

President Rajapaksa appointed committee to go through a preliminary work on the special economic zone law that was prepared during the last administration.
The Port City is built on land reclaimed by China Harbhour Engineering Corporation and part of the land has been given to the government under a public private partnership.
(Colombo/Jan05/2020)

judecroos


Assistant Vice President - Equity Analytics
Assistant Vice President - Equity Analytics
@fireshelter wrote:ECONOMYNEXT – Sri Lanka’s Cabinet of Ministers had approved the drafting of a law to set up a Commission to oversee activities at Colombo Port City, which will be a special economic zone, the state information office said.
The Port City area is expected to have an business environment that can compete with hubs such as Dubai, Singapore and Hong Kong to draw in investors.
It will have competitive legal, tax, regulations and a dispute resolution mechanism.
The Cabinet of Ministers had approved a proposal Presented by President Gotabaya Rajapaksa to draft a Colombo Ports Commission Bill.

President Rajapaksa appointed committee to go through a preliminary work on the special economic zone law that was prepared during the last administration.
The Port City is built on land reclaimed by China Harbhour Engineering Corporation and part of the land has been given to the government under a public private partnership.
(Colombo/Jan05/2020)
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