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As a Special Economic Zone (SEZ) governed by the Colombo Port City Economic Commission (CPCEC), Port City Colombo aims to be a business-friendly environment for investors. . The SEZ includes tax incentives and exemptions of up to 25 years for Businesses of Strategic Importance (BSIs), transactions in 16 designated foreign currencies with no capital or exchange controls, 100% foreign ownership ...
The Colombo Port City Economic Commission is a government entity in Sri Lanka, established in 2021, which is entrusted and authorised, by way of the Colombo Port City Economic Commission Act, No. 11 of 2021, [1] with the administration, regulation and control of, all matters connected with businesses and other operations, in and from the area of authority of Colombo Port City.
The Colombo Municipal Council was practically the Legislative Council of Ceylon, meeting for the first time in 1866. In 1912, the Port was converted into a sheltered harbour, and the Colombo Port Commission was established in 1913. Much of the city was planned during the British occupation of the Port of Colombo. [4]
The newest expressway is the Port Access Elevated Highway running from New Kelani Bridge, Colombo to Athurugiriya, It is estimated to be finished in 2025. All E-Grade highways in Sri Lanka are access-controlled, toll roads with speeds limits in the range of 80–110 kilometres per hour (50–68 mph).
Container handling at the Port of Colombo. Sri Lanka has deep-water ports at Colombo, Hambantota, Galle and Trincomalee. Colombo has the highest cargo volume, with an estimated capacity of 5.7 million TEUs. The port began a large-scale expansion project at a cost of US$1.2 billion in 2008 to increase its capacity and capabilities. [27]
Colombo was established primarily as a port city during the colonial era, with an artificial harbour that has been expanded over the years. The Sri Lanka Navy maintains a naval base, SLNS Rangalla, within the harbour. The Port of Colombo handled 3.75 million twenty-foot equivalent units in 2008, 10.6% up on 2007 (which itself was 9.7% up on ...
The bill titled as Colombo Port City Economic Commission Bill is regarded as one of the important legislations to be passed in the Parliament of Sri Lanka as it is related to the Colombo Port City project, which is the biggest foreign investment received by Sri Lanka from China in the country's history. The bill was slated and deemed as ...
The World Trade Center (also known as WTC Colombo or WTCC) (Sinhala: ලෝක වෙළෙඳ මධ්යස්ථානය, romanized: Lōka Veḷen̆da Madhyasthānaya; Tamil: உலக வர்த்தக மையம், romanized: Ulaka Varttaka Maiyam) is a 152-metre-tall (499 ft) twin building in Colombo, Sri Lanka. The 39-storey ...