Govt. to draft new amendments to Port City law

Wednesday, 15 October 2025 00:00 - - {{hitsCtrl.values.hits}}

Cabinet Spokesman and Minister Dr. Nalinda Jayatissa yesterday said the Cabinet has approved a proposal by President Anura Kumara Disanayake to instruct the Legal Draftsman to prepare amendments to the Colombo Port City Economic Commission Act, No. 11 of 2021.

He said the revisions are aimed at addressing regulatory gaps and investor concerns following the repeal of Port City’s strategic business regulations on 4 August. Those regulations had previously granted key incentives and exemptions to investors.

Colombo Port City, established as a special economic region under the 2021 Act, is intended to position Sri Lanka as a competitive international business hub. The Colombo Port City Economic Commission has identified additional legal changes required to strengthen the region’s competitiveness, attract foreign direct investment, and improve Sri Lanka’s global ease-of-doing-business rankings.

The proposed amendments follow an earlier Cabinet decision in July 2024 to update the existing law. The new measures are expected to provide direct solutions to issues faced by investors and restore confidence by clarifying the incentive framework within Port City’s regulatory environment.