The Cabinet of Ministers has approved designating six companies as Businesses of Strategic Importance under the Colombo Port City Economic Commission Act, No. 11 of 2021, entitling them to incentives and concessions provided under the law.
Cabinet Spokesman Dr. Nalinda Jayatissa said the six firms — Dijital Team LK Ltd., VitalHub Innovations Lab Ltd., Welvaart Solutions Ltd., Advantis Bridge Ltd., Java Global Access Platform FZ-LLC, and Ocean Builders LLC — will operate across information technology, logistics, consultancy, public utilities and infrastructure, and maritime technology within the Port City zone.
The proposed investments are expected to attract around $14.6 million in foreign direct investment over the next five years and create about 650 new jobs, the Cabinet briefing said. The proposal was submitted by President Anura Kumara Dissanayake in his capacity as Finance, Planning and Economic Development Minister.
The strategic-business designation is the principal incentive instrument under the Port City framework, granting tax holidays, regulatory exemptions and access to the foreign-currency-denominated services regime that defines the ring-fenced Special Economic Zone.
The new approvals build on a recent acceleration of investor interest. Port City Colombo officials disclosed in March that the project had secured around $900 million in investments between November 2025 and March 2026 as Sri Lanka’s macroeconomic stabilisation drew renewed inflows. A separate $1.5 billion vertical development pipeline covering offices, residential and hotel space is also under construction.
Port City has positioned itself as a foreign-currency services-export hub offering 100% foreign ownership, streamlined regulations and long-term residency provisions to attract regional financial, professional and technology businesses.
Source: Daily FT.
