Govt. Moves to Address Shipping Sector Concerns 🚢

• Policy & Committee Setup: The Cabinet has prepared a paper to establish a dedicated committee to address critical concerns of the freight forwarding and Non-Vessel Operating Common Carrier (NVOCC) sectors. • Strategic Expansion: Ports Minister Anura Karunathilaka announced plans to transition the Port of Colombo from a primarily transshipment-driven facility into a comprehensive regional maritime & logistics hub. • Logistics Scope: Planned expansion includes free-zone and bonded warehousing facilities, regional distribution, container freight stations, logistics parks, bunkering, and e-commerce logistics to extract greater economic value. • Competitive Outlook: Proactive Government-private sector collaboration aims to improve efficiency, transparency, and predictability, fostering growth and employment for local businesses and SMEs amid global supply chain shifts.