Justice Minister Ali Sabry, PC during his recent official visit to the Port City Colombo to inspect the progress of the current development activities highlighted that this newly constructed City Complex will immensely help to bring new investments to swell the country’s economy to a greater extent in the years.
He said the Port City will definitely help to provide new employment avenues to youth in numerous fields, especially in the field of technology. “In addition, the Port City will also provide lots of world renowned entertaining facilities for the benefit of youth,” he said.
Many foreign investors have pledged their willingness to commence various trade activities in the Port City. The Port City is a mixed development project and around 4,000 employees worked in various construction works at the beginning. It is also said that during the first ten years around 10,000 Sri Lankans will be directly employed in the Port City and after completion of the entire project it is expected to provide 83,000 direct and indirect employment opportunities.
The Port City investor Project has been constructed in 269 hectares and the construction work commenced jointly with the initiative of the then President Mahinda Rajapaksa and Chinese President Xi Jinping. The Port City Colombo which has been constructed on 269 acres is expected to invest over USD 5.5 million FDI in the next five years. It has a high rise building for the International Financial City, a super luxury residential complex, a 7-star hotel complex and a mixed development project to be implemented in two phases.
Minister Sabry also said the Colombo Port City project will accelerate the country’s development projects and wish to implement necessary laws and regulations for future developments.
The Minister also valued the Government’s decision to speed up the construction work of bridges, water distribution projects, highway constructions and many more developments in the country despite the country’s current pandemic situation.
