State Minister for Investment Promotion Dilum Amunugama says 80% of the construction work on the Port City project has been completed, with water supply now underway.
Providing an update on the Port City project, the State Minister said to start a business there, approval must be obtained under the Business Strategic Importance (BSI) Act.
State Minister Amunugama further said that, thereby, applicants are required to submit their project reports to the Colombo Port City Economic Commission.
“So far, we have submitted more than twenty BSIs to the Cabinet, with another fifty set to be presented,” he added.
The State Minister also pointed out that the new Economic Transformation Bill will streamline investment promotion activities through the Economic Commission.
Stating that it will oversee all related decisions, he added that a fast-track approval process for investments is also in place.
Outlining plans for 2024, State Minister Munugama said investment opportunities have been established across various regions, including Trincomalee, Paranthan, Mankulam, and Kankasanthurai.
He revealed that 35 projects have been planned under these investment opportunities.
State Minister for Investment Promotion Dilum Amunugama made the remarks while addressing a press briefing at the Presidential Media Centre on Wednesday. (Newswire)