Ex-UK PM David Cameron to promote SL, Colombo Port City

Friday, 15 September 2023 00:00 –      – 124

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  • Billed to speak to UAE high net worth individuals and top companies via two exclusive engagements in Abu Dhabi and Dubai 
  • To highlight the role of Sri Lanka in the new Indo-Pacific economy and stress now is the time to invest in Port City Colombo

By Nisthar Cassim

Former UK Prime Minister David Cameron has come forward to promote the Colombo Port City, dubbed as Sri Lanka’s game changer for the future.

Cameron is slated to promote the Colombo Port City at a invitee-only separate top events in Abu Dhabi and Dubai on 26 September.

He will be involved in a conversation on “Now is the time to invest in the Port City Colombo, Sri Lanka.”

The exclusive event will also focus on the role of Sri Lanka in the new Indo-Pacific economy and position Port City as the nexus of trade investment and sustainability.

The event will showcase Port City Colombo as a new city rising from the Indian ocean, as a strategic financial, residential, medical, education, leisure and entertainment hub for South Asia, Indian-Sub Continent, Middle East, East Africa and Southeast Asia.

Prime movers of the event includes Senior Advisor to the President of Sri Lanka Nirj Deva Aditya who is a former UK MEP European Parliament and ex-MP of British Parliament and The Sovereign Wealth Fund Institute Chairman Lakshmi Narayanan and the Port City Economic Commission.

The event is supported by the Commonwealth Union, Khaleej Time Events among others.

The 56 year old Cameron served as Prime Minister of the United Kingdom from 2010 to 2016 and Leader of the Conservative Party from 2005 to 2016. He served as Leader of the Opposition from 2005 to 2010, and was Member of Parliament (MP) for Witney from 2001 to 2016. He identifies as a one-nation conservative, and has been associated with both economically liberal and socially liberal policies.

On its part the CHEC Port City Colombo Ltd., the promoters has been positioning the venture as “Building a world class city for South Asia.

It is a brand new city development built as an extension of the Central Business District of Sri Lanka’s vibrant commercial capital, Colombo. Spanning 269 hectares of reclaimed land from the sea, Port City Colombo will be South Asia’s premiere residential, retail and business destination, offering unmatched planned city living along the warm waters of the Indian Ocean. The development will comprise 5 different precincts including the Financial District, Central Park Living, Island Living, The Marina and the International Island.

When completed, Port City Colombo will have over 5.6 million square meters of built space, boasting the best in design and standards. Its lifestyle and business offerings will include world-class facilities and spaces in Healthcare, Education, Entertainment, Hotels and Restaurants, Retail and Office with an Integrated Resort and a Marina, offering the best in living by the sea. Built on the latest sustainable city designs and smart city concepts, Port City Colombo will be the most livable city in South Asia.

Last month the Colombo Port City Economic Commission achieved a significant milestone in its journey to transform the Colombo Port City into a globally competitive special economic zone (SEZ).

The Parliament approved a comprehensive incentives program proposed by the Commission in consultation with the Minister of Investment Promotion, the guidelines for granting exemptions or incentives to businesses designated as Businesses of Strategic Importance (BSI). This was published by Extraordinary Gazette No. 2343/60, on 4 August 2023.

To offer a competitive value proposition to potential investors, the Commission engaged with top international advisory firms such as PricewaterhouseCoopers, Ernst & Young, KPMG, and Boston Consulting Group for international benchmarking of selected factors. For more details see https://www.ft.lk/front-page/Fresh-Govt-Gazette-further-boosts-Colombo-Port-City/44-752328


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