Monday Aug 24, 2026
Monday Aug 24, 2026
Monday, 24 August 2026 06:23 - - {{hitsCtrl.values.hits}}
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Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe
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The Government is targeting a further $ 4.1 billion in investments into Port City Colombo over the next five years, on top of $ 2.1 billion in investments already confirmed, Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe said.
In a social media post, Abeysinghe identified several international companies with investments or operations linked to the Special Economic Zone (SEZ), as the Government steps up efforts to attract new investors.
These include Horizon Group USA for a global shared services centre, Ansell for global operations, IGT1 for BPO and BPM services, KPMG for offshore professional services, and GAC Services for logistics back-office services.
Abeysinghe said Port City was also presented as a key investment opportunity at an Australian investment summit held last week.
He said two major residential developments, three mixed-development projects, a hotel, and a convention centre were also under development at Port City.
The Deputy Minister said the Government had revised what he described as excessive tax concessions previously offered to Port City investors, seeking to bring the incentive framework closer to international standards while retaining the Zone’s competitiveness.
Under the revised framework, primary Businesses of Strategic Importance can qualify for corporate income tax holidays based on investment criteria, while secondary businesses are eligible for a concessionary corporate income tax rate of 7.5% for four years. The framework introduced in 2025 provides primary businesses with tax holidays of up to 15 years.
However, Abeysinghe said tax incentives alone were not the main attraction for international investors. He cited high-speed internet connectivity, Sri Lanka’s strategic location, and access to international markets, as well as a lower cost of living compared with hubs such as Dubai and Singapore, among the factors supporting investment.
The Colombo Port City Economic Commission has separately highlighted the Zone’s strategic location, investor protection framework, and fiscal and non-fiscal incentives as key features aimed at attracting foreign capital.
Abeysinghe stressed that investments attracted to Port City were additional to foreign investments entering Sri Lanka through the Board of Investment.
He said that with Sri Lanka moving towards greater economic stability and stronger growth, the Government’s investment targets for Port City should be within reach.
