By Ifham Nizam

In a move that is set to redefine the nation’s tourism and economic landscape, Sri Lanka marked the groundbreaking ceremony for the USD 120 million luxury Marina Development at Colombo Port City on Friday.

Spearheaded by Browns Investments PLC and China Harbour Engineering Company (CHEC), this transformative project aims to position Colombo as a global hub for luxury maritime tourism and innovation.

The Colombo Port City Economic Commission, led by chairman Harsha Amarasekera, projects that the marina and the broader Port City development will inject an estimated USD 13-15 billion annually into Sri Lanka’s GDP upon completion.

The Special Economic Zone (SEZ) is expected to generate over 140,000 direct jobs, attracting global brands and fostering local talent to mitigate the country’s brain drain.

He added: “This marina represents not just an infrastructure development but a gateway to global economic and cultural convergence, Amarasekera emphasized. “The SEZ will catalyze foreign direct investment (FDI) with a target of USD 5.6 billion over the next five years, alongside fiscal revenues of USD 1.7 billion during construction and USD 700 million annually thereafter.”

The development will span over 33,776 square meters, featuring luxury accommodations, banquet halls, seaside restaurants, and a full-service marina capable of hosting 200 mid-to-large-size yachts. The facility will be the only full-service marina between Dubai and Phuket, cementing Sri Lanka’s position as a key player in South Asia’s luxury yachting market.

“This project fills a critical gap in the region’s maritime infrastructure,” noted Kapila Jayawardena, Group Managing Director and CEO of LOLC Holdings. “It is not just about buildings; it’s about driving economic activity, creating value, and elevating Sri Lanka’s profile as a premium travel destination.”

Vijitha Herath, Minister of Foreign Affairs, Foreign Employment and Tourism, highlighted the marina’s alignment with the government’s vision for sustainable development and inclusive growth. “This initiative symbolizes Sri Lanka’s ambition to emerge as a hub for innovation, luxury, and economic opportunity. It’s a statement to the world that Sri Lanka is open and ready for business, he said.

“Beyond its immediate economic impact, this project aligns with our broader tourism goals. It also underscores our dedication to job creation, skill development, and sustainable growth, offering opportunities for local talent in hospitality, tourism, and related sectors. For 2025, we envisage 3 million visitors, which would generate USD 5 billion in revenue, a goal which is critical to our economic recovery, Herath added.

He said as envisioned by President Anura Kumara Dissanayake, for a comprehensive socio-economic transformation, the government will work to ensure that “Sri Lanka will emerge as a thriving nation and secure a beautiful life for its people.”

He added: “Together, we will transform Port City Colombo into a global hub of innovation, luxury, and economic opportunity. Let me conclude by saying that the Luxury Marina Development is more than a project.

“It is a statement to the world that Sri Lanka is open, ready, and is taking its rightful place on the global stage.”

Key stakeholders, including Qi Zhenhong, ambassador for the People’s Republic of China, and top executives from Browns Investments PLC and CHEC, attended the ceremony.

Local vehicle assembly industry:

Sri Lanka’s local assembly and automotive component manufacturing sector has become a significant pillar of the nation’s economy, driving job creation, conserving foreign exchange, and fostering technical innovation. Operating under the Ministry of Industries’ Standard Operating Procedure (SOP), the industry currently boasts over 17 assembly plants producing a range of vehicles, including motorcars, SUVs, motorcycles, and electric three-wheelers. An additional 17 more investors are preparing to launch their operations in Sri Lanka, signalling robust industry growth.

The sector has directly employed over 5,000 technically skilled workers, including recent graduates and on-the-job trainees, contributing to the development of Sri Lanka’s human capital. Indirectly, it supports more than 10,000 jobs, creating an extensive ecosystem that sustains the livelihoods of thousands of families.

During the temporary suspension of vehicle imports, the local assembly industry demonstrated its strategic importance by reducing reliance on imported completely built units (CBUs). This shift preserved valuable foreign exchange reserves and underscored the viability of local manufacturing. Global automotive giants such as Hyundai, TVS, Bajaj, Mahindra, TATA, Lanka Ashok Leyland, DFSK, Foton, JAC, JMC, Chery, Proton, Wuling, and BAIC have established operations in Sri Lanka, showcasing the industry’s capacity to attract renowned international brands.

Sri Lanka’s component manufacturing sector has evolved to produce high-quality automotive parts, including batteries, tyres, bumpers, exhaust systems, seats, plastic parts, composite parts, liners, wire harnesses, rubber components, and metal components. These advancements have elevated the sector to international standards, positioning Sri Lanka as a competitive player in the regional automotive supply chain.

Clouds by SOZO, in collaboration with the Rukmini Tissanayagam Trust, announces its partnership with the HSBC Ceylon Literary and Arts Festival. This partnership marks a shared vision to celebrate creativity, culture, and the literary arts, with Clouds by SOZO serving as the official beverage partner for the festival.

The festival, renowned for showcasing the talents of celebrated authors, artists, and thinkers, provides a vibrant platform for intellectual exchange and artistic expression. Clouds by SOZO, Sri Lanka’s premium Mountain Spring Water known for its purity, innovation, and sustainability, perfectly complements the festival’s ethos.

Speaking on this collaboration, Indhu Selvaratnam, Director of SOZO Beverages and Trustee of The Rukmini Tissanayagam Trust, stated: “Our mission with the Rukmini Tissanayagam Trust is to nurture and support the rich heritage of art and culture in Sri Lanka. We are dedicated to providing resources, platforms, and opportunities to foster the creative arts, celebrate artistic excellence and contribute to a vibrant cultural landscape. This partnership with the HSBC Ceylon Literary and Arts Festival aligns with our shared commitment to promoting creativity and fostering meaningful connections. Clouds brings an added dimension to this experience, ensuring participants enjoy premium hydration as they engage with the festival’s dynamic offerings.”