New law to transform Colombo Port City into Financial Zone with jurisdiction over offshore activities

President Ranil Wickremesinghe said yesterday (26) that a new law would be introduced to transform the Colombo Port City into the Colombo Financial Zone, granting it jurisdiction over offshore activities.

The President said so while addressing the 2023 Commercial Mediation Symposium held in Colombo.

The President said this legislation was expected to be enacted by the end of the year.

Spanning 269 hectares of reclaimed land from the sea, the Port City will comprise five precincts, including the Financial District, Central Park Living, Island Living, the Marina and the International Island.