Business
David Cameron to address Port City Colombo UAE Roadshow
Port City Colombo is set to launch a Roadshow in the UAE showcasing investment opportunities and incentives for global investors. This significant event marks the initiation of a key global marketing drive, inviting investors from across the world to explore the diverse investment prospects available at PCC.
Former UK Prime Minister David Cameron will address an exclusive, closed-door forum on the strengthening ties between the UAE, Indo-Pacific region and the role of Sri Lanka in this new trend gaining increased momentum. The discussion will showcase the UAE’s role as an international player that can concurrently engage with multiple partners, including in the Indo-Pacific region. Expected to represent more than 50 percent of the global Gross Domestic Product (GDP) by 2040, Asia is increasingly becoming the new economic global power centre of the 21st century. In this context, the UAE aims to strengthen its connections with the Indo-Pacific region and Sri Lanka will play a crucial role in this partnership with its trade and investment offerings particularly through the up-coming multi-billion dollar Port City Colombo development project.
Port City Colombo is a visionary FDI-funded mixed development project that aims to redefine Sri Lanka’s economic and social landscape. Built on reclaimed land, adjacent to the heart of Sri Lanka’s capital, Colombo, PCC will offer a cosmopolitan lifestyle, world-class infrastructure, and sustainable living. As a Special Economic Zone (SEZ), it also provides a range of incentives and benefits for businesses, making it an ideal destination for international businesses, hotel owners and operators to establish their presence in Sri Lanka. The SEZ’s independent governance framework, by way of the Colombo Port City Economic Commission (CPCEC), is also setting the stage for PCC to become one of the easiest places to do business in the region, further cementing its prospects as the Gateway to South Asia.
The Port City Colombo UAE Roadshow arrives on the heels of a significant milestone achieved by the Colombo Port City Economic Commission (CPCEC) recently gaining Cabinet approval for its Businesses of Strategic Importance (BSI) Guidelines, a move that underscores its commitment to transforming Port City Colombo into a globally competitive special economic zone.
Under the approved guidelines, primary and secondary businesses of strategic importance will receive a range of incentives, including exemptions from relevant enactments, favourable corporate tax rates, and enhanced capital allowances. These incentives aim to create a conducive environment for businesses to thrive within PCC, further enhancing its appeal to investors. Among these incentives are tax breaks and regulatory mechanisms, aimed at facilitating seamless business operations and ensuring a favourable investment environment for both local and international entrepreneurs.
The CPCEC has worked closely with international advisory firms to benchmark its efforts, ensuring that Port City Colombo’s regulatory framework aligns with global standards. The result is a transparent and business-friendly environment that caters to the unique needs of primary and secondary businesses of strategic importance.
Accordingly, Port City Colombo presents a diverse range of business and investment opportunities that cater to various interests and sectors. Prospective investors can enter into sectors such as real estate development, regional trading and hub operations, luxurious residential and retail spaces, and more. This broad spectrum ensures that investors of all backgrounds can find their niche within PCC, fostering a thriving and diverse economic ecosystem.
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.
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