INSUBCONTINENT EXCLUSIVE:
The Indian subcontinent is the largest target market for the $1.12-billion Port City Colombo, which will build on ongoing political
alignment between Sri Lanka and the country to offer key opportunities to Indian businesses, says the head of the commission overseeing the
project.Colombo Port City Economic Commission director general Saliya Wickramasuriya said in an interview that the project will offer
opportunities both to Indian players, that already have a presence in Sri Lanka, and to those making their maiden foray into the island
He highlighted the separate laws being enacted for the port city and bespoke business solutions as its main attractions for Indian
has to change accordingly...While there is recovery, there are still economic constraints everywhere and there are political disturbances
The project consists of 269 hectares of reclaimed land, and the developers of the project are hoping it will benefit from a recent increase
in economic cooperation between India and Sri Lanka.The Indian side has provided a $500-million line of credit for purchasing fuel and a
currency swap of $400 million under the Saarc facility
It has also deferred the payment of $515 million due to the Asian Clearing Union
The two sides also finalised the long-gestating project to refurbish and develop the Trincomalee oil farm, a storage facility with a
capacity of almost one million tonnes.Wickramasuriya acknowledged the economic problems currently being faced by Sri Lanka but was upbeat
get trans-shipped through Sri Lanka...So, this is why we are offering an international financial centre concept in a convenient physical
on a set of 10 key policy frameworks and regulations, including regulations for banking and finance, setting up and winding down businesses,
This article first appeared/also appeared in https://adaderana.lk
