The Hon. Presiding Member

¶ 01 The debate on the Colombo Port City Economic Commission Bill is an opportunity to recognize that despite the severe economic crisis and fiscal challenges we faced, through the Government’s progressive measures, Sri Lanka has reached a path of sustainable growth. The Opposition may have observed this, though they may be reluctant to accept it. I urge all Members to acknowledge this progress.

¶ 02 Today, we stand at the edge of a new horizon. The Port City is not merely a construction of rock and sand; it is the heartbeat of modern Sri Lanka. From being the “pearl” hidden in the Indian Ocean, it aspires to become a hub of global innovation—where international investment and Sri Lankan capability meet. We carry the responsibility to manage it efficiently and advance it prudently.

¶ 03 Our principal objective is to create a regulatory and guidance framework that channels significant direct international investments into our country. The newly created 664 acres must be managed efficiently. We urge all Members, including the Opposition, and the people to welcome these investor-friendly amendments, as these investments will undoubtedly benefit the country: they will increase national revenue, generate employment, and expand the tax base.

¶ 04 We must seize this opportunity as Sri Lankans. Tourism is growing rapidly, particularly in the Northern Province. We are developing multiple sites; Jaffna city has been declared a prime destination and nearby islands such as Neduntivu, Nainativu, Analaitivu, and Eluvaitivu will be upgraded. We will introduce modern boat services to reduce travel gaps between islands and the mainland, improve safety and speed, and raise living standards. This is a transformative initiative and such investor-encouraging projects are vital.

¶ 05 The Port City economic program is of great importance. Through it, we will ensure comprehensive facilities for our people and strengthen compliance and oversight via targets on employment, investment, timelines, enhanced supervision, and clear procedures for business premises, compensation, acquisition, declaration of loss and valuation, income tax, annual tax obligations, and corporate tax implications. The amendments prioritize international standards, including efficient bank supervision and regulatory measures.

¶ 06 By enabling world-class commercial spaces, we can attract more foreign exchange and strengthen our economy. The Port City—once surrounded by controversy—is becoming a vibrant economic center. We invite global investors and companies to invest directly in Sri Lanka and uplift our country’s standing. We support these amendments to advance our economy. Thank you.