Business
Port City infrastructure development to be completed by Q3 of 2023
= USD 1.2 bn has already been invested
= USD 1.5 billion more expected to flow in
= Estimated to add USD 13.7 billion to annual GDP when fully operational
= Duty-free shopping mall expected to be open to the public by April 2023
By Sanath Nanayakkare
Port City Colombo (PCC) whose infrastructure development is slated for completion by Q3 of 2023 is showing all the possibilities to be one of the key drivers of growth and recovery in Sri Lanka, a source familiar with many aspects of the project told The Island.
He said that all Sri Lankans should welcome the project and call upon the authorities to provide the fullest support to fast-track its progress.
“While critics have often referred to Port City Colombo (PCC) as a “white elephant” and a “burden of debt” on the Sri Lankan people, these claims cannot be further from the truth. In fact, PCC is not debt-funded and is actually Sri Lanka’s largest foreign direct investment (FDI) driven project. As a result, Colombo now has a platform to create an ultramodern planned metropolis with all the trappings of modern life, which can co-exist and complement the existing sprawl of Colombo. With infrastructure development slated for completion by Q3 of 2023, of the total committed investment of USD 1.4 Bn by the project company, USD 1.2 Bn has already been invested, with a further USD 1.5 billion expected to flow in during the vertical development phase, which will commence thereafter, “he said.
Elaborating on his findings, he said:
“PCC has been designated as a Special Economic Zone (SEZ), which is a legal structure in Sri Lanka, and around the world, that allows certain geographically delimited areas to enjoy special rules and regulations in order to increase ease of doing business, and promote enterprise and development. This concept is not new to Sri Lanka and Sri Lankans have seen many such Export Development Zones in the past, which have no doubt contributed positively to the country’s growth trajectory, by attracting FDIs and promoting exports and industrialization.”
“However, PCC goes beyond any other SEZ in Sri Lanka, supported by the Port City Economic Commission and its associated laws and regulations. This sets up a single management or administrative structure that can help streamline processes and improve ease of doing business dramatically within PCC, potentially even making it the most business-friendly destination in the whole region. This also makes PCC attractive to FDIs and Diaspora, while providing a venue for technological learning, innovation and development. Having separate and more efficient customs provisions also further adds to the attractiveness of PCC. Ultimately, by creating a venue for international business, local businesses will also thrive as PCC and its businesses and residents will need to buy supplies and services from local businesses.”
“Sri Lanka is a relatively small economy, which is one of the reasons that we have not been able to open up and liberalize more efficiently and quickly. Opening up a small economy to global forces can create imbalances that can quickly turn into different issues. However, PCC provides a very efficient way to open Sri Lanka up to the world, whilst shielding the wider Sri Lankan economy from any negative effects. This, combined with wider economic reforms will create a platform for Sri Lanka’s economy as a whole to open up to the world.”
“As an SEZ, PCC will be able to create massive employment opportunities for both skilled and unskilled roles. These jobs will be paid for in foreign currency and in line with globally competitive standards. With global businesses looking to do business in Sri Lanka, the incentives for qualified professionals to seek migration will be diminished, as they will be able to obtain comparable salaries here at home, and in foreign currency too.”
“During construction alone, PCC has created 8,000 employment opportunities and is expected to generate 83,000 well-paid jobs as development matures, contributing USD 13.7 billion per annum to Sri Lanka’s GDP when fully-operational.”
“The construction of the USD 7 million Duty-Free shopping mall inside PCC will be the biggest duty-free mall in the region, with a further USD 6.5 million in the pipeline for expansion of operations. The mall is expected to be open to the public by April 2023, with the initial infrastructure expected to be fully completed by Q3 of 2023, which will open up the doors for a further USD 1.5 billion worth of investments into vertical developments. Two international duty-free operators and an international food and beverage partner are already on board and, with the investment plans for entertainment and leisure activities, PCC is expected to be a top destination for city tourism.”
“It’s going to be a remarkable confluence of events. So, all Sri Lankans should realize the effectiveness of PCC as the largest FDI-driven project, and support it. The people can be confident in doing so as the Port City Economic Commission will be entrusted with the administration, regulation and control of all matters connected with businesses and other operations, in and from the area of authority of the Port City,” he pointed out.
Business
Malaysia courts more Sri Lankan travelers as ‘Visit Malaysia 2026’ gathers steam
Malaysia is intensifying efforts to attract more Sri Lankan travelers by promoting its diverse tourism offerings, strong air connectivity, Muslim-friendly facilities and expanding business partnerships ahead of the ‘Visit Malaysia 2026’ (VMY2026) campaign.
Addressing the Tourism Malaysia product presentation yesterday in Colombo, Malaysian High Commissioner to Sri Lanka Badli Hisham Adam said tourism remains one of the strongest pillars of the long-standing bilateral relationship between Malaysia and Sri Lanka, helping strengthen cultural understanding, business links and people-to-people ties.
The event, organised by Tourism Malaysia Chennai in collaboration with the High Commission of Malaysia in Colombo, brought together Malaysian tourism stakeholders, airline representatives, Sri Lankan travel industry professionals and members of the media to explore new business opportunities.
The High Commissioner said Sri Lanka continues to be an important source market for Malaysia, with growing numbers of Sri Lankan travelers seeking destinations that combine diversity, affordability, quality experiences and convenient connectivity.
“As part of ‘Visit Malaysia 2026’, we warmly invite Sri Lankan travelers to discover the richness of Malaysia, he said.
Highlighting Malaysia’s tourism strengths, the envoy said the country offers a wide range of attractions, including multicultural cities, UNESCO World Heritage Sites, pristine beaches, tropical rainforests, cool highlands and unique wildlife.
These are complemented by world-class shopping, family-friendly attractions, educational opportunities, wellness and medical tourism, business events and internationally renowned hospitality.
He also stressed Malaysia’s position as the world’s leading Muslim-friendly destination, supported by an extensive halal ecosystem with internationally recognised certification, halal-certified restaurants, easily accessible prayer facilities and family-oriented amenities across the country.
Despite ongoing geopolitical uncertainties around the world, the High Commissioner said Malaysia remains a stable, peaceful and welcoming destination for international travelers.
He urged Sri Lankan travel agents to strengthen collaboration with Malaysian tourism providers by developing innovative travel packages targeting leisure travelers, business visitors and event participants.
The presentation featured leading Malaysian tourism partners, including Wyndham Ion Majestic, Lotus Desaru, Key Term Holidays representing the Sabah Tourism Board and Asian Overland representing The PULSE Group, showcasing Malaysia’s diverse tourism experiences and investment in the Sri Lankan market.
The envoy also acknowledged the contribution of airline partners and the media in enhancing Malaysia’s visibility and improving travel connectivity between the two countries.
Looking ahead to ‘Visit Malaysia 2026’, he said the future growth of tourism would depend on stronger collaboration, innovation and meaningful partnerships between industry stakeholders.
He expressed confidence that closer cooperation between Malaysia and Sri Lanka would generate fresh business opportunities while encouraging more Sri Lankan visitors to experience Malaysia’s culture, diversity and hospitality.
The High Commissioner concluded by expressing hope that the networking session would lead to stronger commercial partnerships and contribute to the success of ‘Visit Malaysia 2026’, further deepening tourism and economic ties between the two friendly nations.
By Ifham Nizam
Business
Women Empowered Global launches ‘Leadership Lab’
Women Empowered Global (WEG), a network of award‑winning female leaders, corporate CXOs and entrepreneurs, experts and thought leaders dedicated to empowering women from six continents, unveiled the ‘WEG Leadership Lab’, a 24‑week virtual intensive programme, commencing 26 September. The programme is designed exclusively for women leaders who are ready to accelerate their careers, amplify leadership visibility, and drive transformational growth.
The women‑only leadership experience breaks the mould of conventional training, offering a powerful blend of masterclasses, mentorship, and practical leadership tools tailored for rising leaders, managers, and senior professionals. Participants will gain international exposure, sharpen essential skills, and the opportunity to join a vibrant knowledge‑sharing community which fosters confidence, resilience, and impact.
“The WEG Leadership Lab is not for casual growth. It is for women who are serious about transforming their leadership journey,” said Senela Jayasuriya, Founder/CEO, Women Empowered Global. “By combining global expertise with local delivery, we are creating pathways for women across manufacturing, trading, finance, marketing, technology, and management, as entrepreneurs, business owners, fractional executives, or corporate leaders, to thrive and build a more inclusive leadership landscape.”
WEG’s platform facilitates international exposure and career development for professionals and connects more than 4,000 members worldwide. The Leadership Lab builds on WEG’s flagship initiatives, including the 1 Million Women in Power campaign, the African Women Leadership Forum, the Business Hub, and the Global Online Academy. The programme aims to deliver a transformative journey equipping women to step boldly into leadership roles locally and internationally.
Led by Senela Jayasuriya (MBA, UK), an internationally recognized and awarded leadership & empowerment coach and innovation partner, keynote speaker, and certified expert, WEG collaborates with DEI specialists, corporate boards, Business and HR leaders, to design programmes which advance women’s careers, leadership visibility, equity, and inclusion. To date, she has successfully delivered leadership development programmes to more than 20,000 professionals.
Business
JKCG Auto and Green EV join forces to build Sri Lanka’s most expansive EV charging network
John Keells CG Auto (JKCG Auto), the authorised distributor of BYD and Denza in Sri Lanka, has launched a strategic partnership with Green EV on 26th June 2026 to significantly expand the charging infrastructure available to its customers across the island. The collaboration, formalised through a Memorandum of Understanding (MOU), marks a pivotal step in JKCG Auto’s ongoing commitment to building a comprehensive and reliable New Energy Vehicle (NEV) ecosystem in Sri Lanka.
Through this partnership, BYD and Denza owners will gain seamless access to Green EV’s public charging network of 100+ DC fast chargers and 70 AC chargers, spanning 20 districts and all nine provinces of Sri Lanka, from Jaffna in the north to Hambantota in the south, and from Puttalam on the northwest coast to Trincomalee and Ampara on the eastern seaboard, encompassing a mix of 40kW, 60kW, and 120kW fast-charging infrastructure. The network has been designed to ensure that customers can charge conveniently and confidently, whether in the heart of Colombo or in suburban and outstation communities, removing one of the most commonly cited barriers to EV adoption in Sri Lanka. Further strengthening customer confidence, Green EV has partnered with SLIC to provide a comprehensive insurance cover of LKR 100 million for every Green EV charging station, offering protection against potential damages and ensuring complete peace of mind for every user.
The initiative reflects JKCG Auto’s broader strategy to invest in the foundations of sustainable mobility, ensuring that the transition to electric vehicles is supported not only by world-class vehicles, but by a dependable ecosystem that addresses the practical needs of everyday ownership.
“If the future of mobility in Sri Lanka is going to be electric, success will hinge on how accessible we are able to make the actual vehicles, as well as the enabling infrastructure around them. JKCG Auto is proud to partner with other visionaries like Green EV to ensure that we eliminate range anxiety, so that every customer – whether in Colombo or anywhere in Sri Lanka will have the confidence to go electric,” JKCG Auto Chief Executive Officer, Charith Panditharatne.
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