The Port City project is currently the single largest private-sector development project in Sri Lanka, and it is envisioned to boost the economy alongside the country’s existing development plans with state-of-the-art living, working, public and recreational spaces.
After the war was brought to finish in 2009, the Colombo Port City project commenced in 2014. But due to deliberate obstructions by the unity government in 2015, the project got delayed by over three years. As the project was suspended and that government had to give in faced with massive penalties. It resulted in the government granting five hectares of reclaimed land as compensation. The gazetting of reclaimed land as part of the country took nearly two years.
The Port City seminar a couple of weeks ago highlighted needs to be addressed. Now in 2020 with a New President in power, issues would be settled amicably early.
Settlements of issues would result foreign investments in the country. The construction activities would require local materials and generate local jobs. The completed Financial City in Port City is expected to create 80,000 new jobs, with a high percentage of foreigners.
If they are allowed to invest in the apartments they occupy, a major part of their salaries would remain in the country. Thus immediate decisions on Port City policy matters would help to accelerate investments and create jobs.
Watch the B1M on U-Tube @ https://youtu.be/t2e1xOcGpDc