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Port city Colombo set to become a regional logistics and business hub

CHEC Port City Colombo (Pvt) Limited has formed a collaboration with the Sri Lanka Export Development Board (EDB), marking a significant step in establishing Port City Colombo as a regional logistics and business hub, as well as a financial center in South Asia. This partnership, evidenced by a Memorandum of Understanding signed on April 26, 2024, aims to attract export-oriented businesses by promoting Port City Colombo as a strategic location for setting up operations.

The initiative is seen as a catalyst for driving Sri Lanka's economic development, offering both fiscal and non-fiscal benefits to local exporters. The collaboration between Port City Colombo and the SLEDB intends to utilize the zone's direct access to global markets, including the Middle East, Asia-Pacific, and South Asia, thereby positioning Port City Colombo as a strategic logistics hub in the region.

Source: lankanewsweb.net

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