The Hon. Aboobucker Athambawa

¶ 01 Hon. Deputy Speaker, I am pleased to speak on the Colombo Port City Commission (Amendment) Bill. As we integrate Port City with national commerce, we must leverage it as a national asset. Port City spans about 664 acres, adding roughly 269 hectares (2.6 sq. km) to Sri Lanka’s landmass—a resource brought by foreign assistance. Of this land, 47% is for office buildings, 18% for institutional uses, 13% for retail, and 6% for hospitality. The Government expects to embed ICT-related activities strongly there.

¶ 02 Since this Government took office, public debt as a share has reportedly declined from 52% to 35% under our framework, and it is scientifically assessed that Port City can significantly contribute to our economy by bringing in dollars. The tax framework for both international and domestic enterprises investing in Port City is being clearly laid out, with expectations of attracting FDI and making Port City a globally competitive special economic zone.

¶ 03 We aim to improve Sri Lanka’s global ranking on ease of doing business by leveraging Port City. Through modern thinking, negotiations, and analysis, we seek to transform Port City into a profitable locus that earns dollars, by attracting both local and foreign investors.

¶ 04 Despite opposition claims, our leadership is guiding the country well. Those in the opposition predicted the Government would fall in six months, but their hopes have failed. Today, under the President and Government, growth has reached about 4.8%. People who did not vote for the President now extend their support. Previously, foreign investors feared entering Sri Lanka due to corruption; today, we are building an environment free of corruption and fraud, while strengthening human resources. Trust and stability in our political and economic situation are increasing.

¶ 05 We have arranged investor-friendly legal frameworks for Port City, with multi-level discussions ongoing. By offering tiered tax treatments based on investment size for both primary and secondary investors, we expect substantial revenue and dollar inflows for national development. Rather than incessant criticism, the opposition should cooperate to build a prosperous country and a beautiful life for our people. Thank you.