Govt Targets Fresh US$ 4.1 Bn Investment into Port City Colombo 📈

• Overall Investment Target: The Government is aiming for an additional US$ 4.1 Bn in investments over the next 5 years, adding to US$ 2.1 Bn already confirmed. • Key Industry Investors: Key players operating in the Special Economic Zone (SEZ) include: • ICT/BPM: IGT1 for BPO/BPM services. • Apparel & Textiles / Global Operations: Ansell. • Global Shared Services: Horizon Group USA. • Offshore Professional Services: KPMG. • Logistics Back-Office: GAC Services. • Infrastructure Developments: Projects underway include 2 residential developments, 3 mixed-development projects, a hotel, and a convention centre. • Revised Tax Framework: • Primary Businesses: Income tax holidays up to 15 years. • Secondary Businesses: Concessionary corporate income tax rate of 7.5% for 4 years. • Competitive Edge: Beyond incentives, investments are driven by high-speed internet, strategic location, international market access, and a lower cost of living compared to Dubai or Singapore. • National Impact: Investments into Port City are supplementary to foreign direct investment coming via the Board of Investment (BOI).