Page 33 - CPM Sri Lanka-Chartered Manager-Sept. 2021
P. 33
THE INSTITUTE OF CHARTERED PROFESSIONAL MANAGERS OF SRI LANKA
JANUARY 2021
As envisioned, this large investment should signal
confidence in the outlook for Port City and Sri
Lanka notwithstanding the poor credit rating
of the country. Creating a conducive economic
environment in Sri Lanka is absolutely crucial in
attracting foreign investment to Port City. Our focus
should be to entice large investors and brands by
providing them with efficient bespoke solutions,
which should address specific concerns and
reassure protection of their investment rather than
challenging the rating agencies. Once we are able
to attract a few large brands and instill business
confidence, better rating will follow.
It is important to note that by the Interim Provisions
of the Port City Act, businesses are able to
immediately benefit from the conducive legal &
regulatory framework by setting up outside Port City
in Sri Lanka until such time the ultra-modern office
spaces within Port City are ready for occupation.
I believe this Interim Provision will also provide a
much needed lifeline to the currently vacant real
estate in Colombo and also foster an ecosystem that
will promote trade and commerce.
31
