Cabinet Approves Port City Regulations Designating 68 Strategic Businesses for Parliament

The Cabinet has granted approval for regulations under the Colombo Port City Economic Commission Act, No. 11 of 2021, to be submitted to Parliament. These regulations designate 68 businesses operating within the Port City as secondary businesses of strategic importance, encompassing sectors such as information technology, consultancy, logistics, and infrastructure. Separately, the Cabinet also approved a proposal to designate Prime Melwa (Private) Limited as a primary business of strategic importance, potentially attracting an investment of USD 112.2 million. This designation, facilitated under Section 53 of the Act, allows for the provision of incentives to businesses deemed crucial for the Port City's development.