Port City Economic Commission Bill presented to House

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The Colombo Port City Economic Commission Bill was presented to Parliament yesterday by Leader of the House Dinesh Gunawardana.

A high-powered five-member Colombo Port City Economic Commission, with adequate powers at its disposal, will oversee the development of 446.6153 hectares of land as a special economic zone in the heart of Colombo city.

The commission is to function as a Single Window Investment Facilitator in relation to the grant of any registration, licence, authorisation or approval for business entities in the Special Economic Zone (SEZ). Only persons authorised by the Commission will be permitted to engage in business in and from the Colombo Port City, according to a bill gazetted following the Cabinet approval early this week.

The commission will consist of five members including a chairperson appointed by the President.

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