Business
Delegation of investors led by UAE royalty visits Port City Colombo
A delegation of investors from the United Arab Emirates, led by Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, visited Port City Colombo on January 14, during a special visit to Sri Lanka for the purpose. Discussions were held between the members of the delegation, representatives from the Colombo Port City Economic Commission (Commission) and Port City Colombo (PCC) with a view to attracting foreign direct investments to the project.
The delegation was given a comprehensive overview of Port City Colombo’s development and plans for the future which the delegation commended, followed by a tour of PCC Marina. Port City Colombo is a large-scale development project covering an area of 269 hectares of reclaimed land. It aims to serve as a new economic hub for the country, offering a range of commercial and residential opportunities. The project is expected to bring significant economic benefits to Sri Lanka, including job creation and increased foreign investment.
Expressing his views on the visit and the progress of discussions, Thulci Aluwihare, Deputy Managing Director of CHEC Port City Colombo (Private) Limited said, “We’re very pleased to have had the opportunity to host this delegation, led by His Royal Highness, and showcase the potential of the Port City Colombo development project. This visit is a clear indication of the growing interest in what we have to offer, and we look forward to welcoming more investors and partners in the future. We are also anticipating the PCC Duty-Free Shopping Complex to open on schedule by April 2023.”
The UAE delegation also included Luke Sellwood – Advisor to His Highness Sheikh Mohammed Bin Maktoum Bin Juma Al Maktoum, Ivan Shkarba – Partner and investor in efiscal. Ivan also invests with His Highness in other business opportunities. Ms. Jekaterina Kamilov – Personal Assistant to Ivan Shkarba, Damir Makhmutov – Vice President International Expansion at efiscal, Rahmy Morcos – Director of Ska Group, Mustafa Usman Aripandhra – Business Development Manager of and Dr. Siddeek Ahamed – Chairman and Managing Director, Eram Group – UAE and Saudi Arabia.
The UAE delegation was received, on behalf of the Commission, Mr. Revan Wickramasuriya – Director Financial Services and Compliance, Ms. Vindhya Weerasekera – Director Legal and Corporate Affairs, Mr. Dimantha Kinigama – Director Commercial and Operations and Ms. Dhanya Gunawardana – Head of Branding & Communications, and on behalf of CHEC Port City Colombo (Private) Limited, by Mr. Thulci Aluwihare – Deputy Managing Director, Mr. Eric Ou – Assistant Managing Director, Dr. Joe Lekplipol – Regional Head of Investment Promotion (Indochina Peninsula), Ms. Radika Obeyesekere – Director Investment Promotion & Marketing, Mr. Shalaka Wijeyaratne, Executive Director – Investment Promotion and Marketing, Mr. Nisal Karunapala – Manager – Strategy & Transaction Services and Mr. Shane Amadoru – Regional Manager Investment Promotion & Marketing (Middle East).
Having added 2.69 square kilometres to Sri Lanka’s sovereign territory, Port City Colombo is Sri Lanka’s biggest FDI-funded development project. With infrastructure development slated for completion in Q3 of 2023, of the USD 1.4 Billion committed by the project company, USD 1.2 Billion has already been invested into Port City Colombo, and a further USD 1.5 billion is expected to be invested during the vertical development phase, which is expected to commence as soon as regulations are finalized. A USD 7-million Duty-Free Shopping Complex, the first of its kind in South Asia and expected to be a magnet for shopping and tourism, will also open its doors at Port City Colombo in April 2023.
Business
“ViYASA” National Business Facilitation Centre (NBFC) to be opened tomorrow (22)
The National Business Facilitation Centre (NBFC), which is being established under the Presidential Secretariat with the aim of removing administrative and regulatory barriers that exist among government institutions in relation to investment and industry and expediting these processes, will be opened tomorrow (22).
The centre is being established on the President’s initiative with the aim of bringing about a positive transformation in the industrial sector. The centre will provide solutions to issues that arise in dealing with the government machinery when starting and operating a business, while also coordinating with the relevant government institutions to provide the necessary facilities.
The “ViYASA” National Business Facilitation Centre (NBFC) has been established at Building C-80, Hector Kobbekaduwa Mawatha, Colombo 07, and is headed by Senior Additional( Secretary to the President, Seevali Arukgoda.
The centre will be opened under the patronage of Minister of Labour and Deputy Minister of Finance and Planning Dr Anil Jayantha Fernando and Minister of Industry and Entrepreneurship Development Sunil Handunnetti, with the participation of Secretary to the President Dr Nandika Sanath Kumanayake.
The website https://nbfc.presidentsoffice.gov.lk is also scheduled to be officially launched on the occasion.
President’s Media Division)
Business
Charting a worker-centered AI future: Colombo hosts landmark ITF conference
By Sanath Nanayakkare
Artificial intelligence and automation present serious challenges for workers – such as job consequences seen in docks and rail systems – and emphasises that workers cannot simply stop technological progress. By gathering young trade unionists in Sri Lanka, the ITF aims to establish key principles for engaging with technology, ensuring workers have a strong voice at the bargaining table, and encouraging constructive social dialogue with corporations and governments.
These compelling words from ITF General Secretary Stephen Cotton underscored the urgent reality facing modern labor as rapid technological advancements sweep across global industries.
Confronting this shifting landscape head-on, the International Transport Workers’ Federation (ITF), in partnership with the National Union of Seafarers of Sri Lanka (NUSS), convened a ground-breaking conference on artificial intelligence in Colombo from September 15–17.
As the ITF’s first-ever AI-focused global conference and the first of its kind hosted in Sri Lanka, the landmark event marked a critical milestone in balancing technological innovation with worker-centered safeguards.
Representing over 16.6 million transport workers worldwide, the ITF designed the gathering to tackle the multifaceted impacts of AI on safety, operations, workforce development, and governance. Rather than resisting progress, the conference focused on proactive engagement, establishing guiding principles to protect workers’ rights and privacy both at sea and on land.
Key discussions centred on sharing best practices for upskilling and reskilling transport personnel, ensuring that human oversight remains central to AI-driven logistics, routing, and maintenance.
Reflecting on the historic nature of the event, Boa Athu, CEO of National Union of Seafarers Asia Pacific, noted that the conference represented a monumental moment as AI emerges as a permanent fixture of contemporary life.
Highlighting NUSS’s pride in hosting the event in Colombo, Athu emphasised that AI offers transformative potential when guided by strong social dialogue, equitable access to training, and robust governance safeguards.
Ultimately, the Colombo conference demonstrated that the future of transport must be shaped by those who keep the world moving. By uniting international labour leaders, affiliates, port operators, and regulators, the event laid a vital foundation for inclusive policy frameworks that champion fair labour standards, securing a powerful voice for workers in an automated tomorrow.
Business
Bridging the digital divide: Sri Lanka’s airport licence challenge
By Sanath Nanayakkare
As Sri Lanka experiences a surge in visitors from its largest tourist market, India, a modern administrative hurdle has emerged at Bandaranaike International Airport (BIA).
While nations like India and Pakistan have successfully transitioned to fully digital driving licences and cashless ecosystems, Sri Lanka’s Department of Motor Traffic counter still requires a physical card to issue temporary local permits, The Island Financial Review learns.
This mismatch creates significant friction for independent travelers who rely entirely on smartphones and cloud-stored credentials. Tourists turned away at the airport – and sometimes redirected to the Werahera office in vain – find themselves unable to legally rent and drive vehicles. Consequently, this policy gap harms local car rental operators, causes tourist frustration, and deprives the government of valuable permit revenue.
The situation highlights a distinct irony: Sri Lankan motorists easily travel abroad using International Driving Permits that are readily accepted in India and Pakistan, yet local infrastructure cannot reciprocate due to outdated verification systems.
Recognizing the problem, Department of Motor Traffic officials have noted that upgrades and new equipment are currently in the works to integrate foreign digital platforms.
For a nation aggressively pursuing a national digitalisation drive, rapidly modernising these transport protocols is essential to keeping pace with global travelers and unlocking the full potential of its tourism economy.
-
News5 days agoUS embassy won’t comment on IGP’s probe into joint drug raid
-
News4 days agoBid for Basil’s extradition nears final stage: Police
-
News3 days agoShanakiyan urges urgent action over reported death sentence for Lankan in Saudi Arabia
-
Features7 days agoThe emptying university: why are academics leaving?
-
Business5 days agoAll-new Bolero MaXX unveiled in Sri Lanka
-
Opinion7 days agoWho committed genocide and created mass graves in Sri Lanka?
-
News2 days agoNamal Rajapaksa Buddhist gambit fails, bail denied
-
Opinion5 days agoA journalist who wrote across the divide
