Port City is on target to fill up with companies
The Colombo Port City has roped in 65 companies and is on target to make it 100 by year end, top officials said.
They also said the banking regulations for Port City will be ready by July end.
Reputed international and local corporate entities, including Asiri Port City Hospital (Pvt) Ltd, TIQRI, CODEGEN INNOVATIONS, 99x Technology AS, IVIVAPTE Ltd, Echelon Trade (Pvt) Ltd, and Port City BPO (Pvt) Ltd, have been additionally designated as Businesses of Strategic Importance.
IFS’s holding company is establishing a new venture in the Port City which will provide IT services to non-IFS companies owned by their investors, and it is expected to generate an additional thousands of employment opportunities in the years to come, according to officials.
So far primarily service companies, business process outsourcing companies, Knowledge processing outsourcing companies, trading firms and IT companies have registered under Port City Businesses of Strategic Importance, they said.
The firms are required to bring in dollar investments and they have to be channelled from overseas. Also, there is a requirement for a number of employment at the companies, within three years.
These companies have a Port City registration licence but operate from designated stations such as the Trace Expert City, outside Port City till the buildings come up. Their offshore operations are tax-exempt for 25 years.
The officials said that the land owned by Browns PLC for a mixed-develoment project will break ground for the building by year-end.
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