Categories: Articles

LNP – Port City to have significant impact on economy -ICCSL

The International Chamber of Commerce, Sri Lanka ( ICCSL) in a statement issued on Monday said “The Port City project will have a significant impact on the economy in terms of much needed FDI’s to the country, together with the potential new employment & trade opportunities that the project will generate over time.

The statement added that “Special Economic Zones similar to this proposed Port City, have been successfully established in many countries worldwide to attract foreign direct investment.

The Port City Commission bill that aims to provide for a special economic zone to establish a commission to grant registrations, licenses, and other approvals to operate business in such economic zones underpins the governance of the Port City and is an essential requirement to be in place, for its success.

Dinesh Weerakkody Chairman ICCSL noted, “to ensure its success concessions given would need to be in line with similar Concessions given by other competing countries for such Special Economic Zones. He however noted that the several concerns raised, including the composition of the commission must be addressed before the Bill becomes law.

ICCSL is a national Committee of the International Chamber Commerce (ICC). Globally, ICC represents over six million member companies and over 43 million members globally in over 130 countries. ICCs founding mission is to promote widespread peace and economic prosperity.

AddThis Website Tools
Tyronne Jayamanne

Recent Posts

LNP – President invites German investors to explore new opportunities in tourism sector

Highlighting the new investment opportunities emerging in Sri Lanka’s tourism industry, President Anura Kumara Dissanayake…

6 hours ago

LNP – Generator at Norochcholai to be shut for maintenance

The Ceylon Electricity Board (CEB) said the third generator at the Norochcholai coal power plant…

11 hours ago

LNP – Oil soars more than 6% after Israel’s strike on Iran alarms market

Oil prices jumped more than $4 a barrel on Friday, hitting their highest price in…

11 hours ago

LNP – IMF highlights 15% electricity tariff hike as key step for $344M tranche

The International Monetary Fund (IMF) has acknowledged Sri Lanka’s continued progress under its economic reform…

11 hours ago

LNP – SriLankan Airlines announcement on European route adjustments

SriLankan Airlines has announced temporary adjustments to its European flight routes due to the closure…

11 hours ago

LNP – ITAK secures power in Jaffna Municipal Council

The Ilankai Tamil Arasu Kachchi (ITAK) has secured a majority in the Jaffna Municipal Council,…

11 hours ago