The Confederation of Asia-Pacific Chambers of Commerce and Industry (CACCI) and the Federation of Chambers of Commerce and Industry of Sri Lanka (FCCISL) jointly hosted a webinar on Business Opportunities in Sri Lanka on October 23, 2025. 4:30PM, Taipei Time.

Mr. Keerthi Gunawardane, President of FCCISL, welcomed the participants and underscored Sri Lanka’s appeal as an investment destination. He also invited attendees to the upcoming  39th CACCI Conference and Expo in Colombo (10-11 November 2025), before introducing the two speakers, namely, Mr. Revan Wickramasuriya, Director General of the Colombo Port City Economic Commission, and Ms. Renuka Weerakone, Director General of the Board of Investment of Sri Lanka.

(1) Mr. Revan Wickramasuriya, Director General, Colombo Port City Economic Commission

Mr. Wickramasuriya presented the Colombo Port City Project, Sri Lanka’s largest FDI-driven urban development and its first Special Economic Zone (SEZ). Built on 2.69 sq km of reclaimed land adjacent to Colombo’s business district, the project is expected to attract US$12–14 billion in investment and create 143,000 jobs. Of the 269 hectares developed, 178 hectares are allocated for commercial and residential use, with 91 for public spaces.

The master plan includes five precincts — residential, central park, international, financial, and marina districts — designed to host global firms and lifestyle amenities. Incentives include 10–15 years of tax exemptions, 99-year leases, and full capital mobility, positioning Colombo as a regional financial and services hub for sectors such as finance, IT, logistics, education, healthcare, and tourism.

Sustainability is central, with green corridors, light-rail access, and ESG-based incentives for eco-friendly construction. Ongoing talks with major international developers aim to make Port City a modern, globally competitive business destination.

Key Takeaways:

• Colombo Port City is Sri Lanka’s first multi-services SEZ, targeting global investors in finance, IT, logistics, and tourism.
• It offers generous incentives including long tax holidays, customs exemptions, and 99-year leases.
• The project emphasizes sustainable and smart urban infrastructure.

(2) Ms. Renuka Weerakone, Director General, Board of Investment of Sri Lanka

Ms. Weerakone provided an overview of Sri Lanka’s investment environment and sectoral priorities. Responsible for promoting and facilitating FDI, the BOI manages 17 Export Processing Zones and plans three more. She highlighted Sri Lanka’s strategic location on major East–West trade routes, extensive FTAs with India, Pakistan, Singapore, and Thailand, and preferential access to EU markets.

Key advantages include 100% foreign ownership, full profit repatriation, a skilled, English-speaking workforce, and strong IP protections. Investors also benefit from duty exemptions, enhanced capital allowances (up to 100% depreciation for projects over USD 3 million), and five-year visas for executives and specialists.

She spotlighted four priority sectors: tourism, manufacturing, ICT and the digital economy, and agri-processing. Tourism is recovering fast, with 3 million arrivals expected in 2025 and 5 million by 2030. Agriculture offers opportunities in organic exports and AI-based agritech, while the ICT sector aims for USD 5 billion in exports by 2030, supported by new tech parks. Manufacturing remains a key strength in high-value areas such as apparel, components, solid tires, and green production.

Key Takeaways:

• Sri Lanka’s SEZs and BOI zones make it a strategic gateway to South Asia and global trade routes.
• The country offers tax holidays, full ownership rights, and streamlined investor services.
• Opportunities abound in tourism, ICT, agriculture, and manufacturing, backed by strong policy support.

(3) Panel Discussion Summary

Moderated by Mr. Gunawardane, the panel discussion featured follow-up questions for Ms. Weerakone and Mr. Wickramasuriya.

Ms. Weerakone confirmed that the Strategic Development Projects Act has been revived, granting tax holidays and levy exemptions for large-scale investors. She added that the BOI’s digital transformation allows online applications and visa processing, complemented by a new Investor Facilitation Center at the World Trade Center to coordinate government approvals.

On citizenship, Mr. Wickramasuriya clarified that while it is not offered, the Colombo Port City visa system provides long-term visas of up to 10 years for investors, employees, and residents, with dependent privileges.

Discussing agricultural opportunities, Ms. Weerakone noted growing interest in floriculture, horticulture, and high-value crops like mushrooms and strawberries, alongside traditional exports. On ownership rules, she reiterated that 100% foreign ownership is permitted in most sectors, except for freehold land purchases, which require a local majority shareholder.

Mr. Wickramasuriya added that Colombo Port City, as an offshore SEZ, permits 100% foreign ownership and 99-year leases, similar to global models such as Dubai, offering investors flexibility and long-term protection.

Key Takeaways:

• The Strategic Development Projects Act reinstates tax incentives for major investors.
• BOI digitization and the new facilitation center enhance investor convenience.
• Colombo Port City ensures full foreign ownership and extended visa privileges for global investors.