Sri Lanka, Oct. 15 -- Cabinet has approved drafting amendments to the Colombo Port City Economic Commission Act No. 11 of 2021, aiming to restore investor confidence and strengthen the city's position as a competitive international business and services hub.
The move follows the repeal of the Port City's strategic business regulations in August, which had created uncertainty for investors relying on key incentives and exemptions. The proposed amendments are expected to address these gaps and introduce new provisions to streamline investment facilitation and governance.
The Colombo Port City, established as a special economic region under the 2021 Act, is central to the government's strategy to attract foreign direct investment and enhance...