Colombo Port City Economic Commission Act
Colombo Port City Economic Commission Act
Designated Single Window Investment Facilitator for the promotion of ease of doing business within Port City Colombo SEZ.
The primary purposes of the Colombo Port City Economic Commission Act are to:
- Provide for the establishment of the Port City Colombo SEZ
- Establish The Commission empowered to grant licenses and other approvals to carry on businesses and other activities in and from the Port City Colombo SEZ. The Commission will serve as a ‘single window investment facilitator’ for the promotion of “ease of doing business within the SEZ”
- Determine and grant exemptions and incentives for the promotion of ‘Businesses of Strategic Importance’ (BSI) within the SEZ
- Enter into transactions of marketable land and properties within the SEZ
- Promote and facilitate international trade, shipping and logistic operations, international banking and financial services, information technology and business process outsourcing, corporate headquarter operations, regional distribution operations, tourism, and other ancillary services within the SEZ
- Establish an International Commercial Dispute Resolution Center (ICDRC) within the SEZ; and
- Promote urban amenity operations and the settlement of a residential community within the SEZ
