Colombo Port City

Crisis-hit Sri Lanka has decided to give special 40-year tax relief for Chinese-built Colombo Port city to attract potential investors as Sri Lanka's foreign direct investment failed to attract investments.

The Sri Lankan government will firmly support and accelerate the development of the Colombo Port City project constructed by China to ensure that it will emerge as a new business hub in the island country, Prime Minister Mahinda Rajapaksa said at a grand ceremony marking the opening of the project for the investors on Saturday.

Sri Lanka is in advanced talks with India and Japan to construct a container terminal at the port in Colombo, next to a Chinese terminal built as part of Beijing's Belt and Road Initiative, government officials said.

Sri Lanka is a key component of China's 21st Century Maritime Silk Road, with Hambantota Port and Colombo Port City as the two flagship projects of cooperation between the two countries under the Belt and Road Initiative (BRI), Chinese Ambassador Cheng Xueyuan said.

China will invest $1 billion in the construction of three 60-storey buildings at a mega-project near Sri Lanka's main port, Colombo said Tuesday, as Beijing aims to boost its influence in the Indian Ocean.

Sri Lanka has granted approval for a $1.4 billion Chinese-backed real estate project in Colombo to resume construction, ending a year-long delay, Chinese state news agency Xinhua reported on Thursday.

China today asked Sri Lanka to protect the interests of Chinese investors for "healthy development" of economic and trade ties after the new Sri Lankan government began reviewing the big ticket investments, specially the China-funded USD 1.5 billion Colombo Port City project.

In his first television interview since the results of the elections, Sri Lanka's new Prime Minister Ranil Wickremasinghe told NDTV that his government will redress the pro-China tilt of the Rajapaksa regime

Crisis-hit Sri Lanka has decided to give special 40-year tax relief for Chinese-built Colombo Port city to attract potential investors as Sri Lanka's foreign direct investment failed to attract investments.

The Sri Lankan government will firmly support and accelerate the development of the Colombo Port City project constructed by China to ensure that it will emerge as a new business hub in the island country, Prime Minister Mahinda Rajapaksa said at a grand ceremony marking the opening of the project for the investors on Saturday.

Sri Lanka is in advanced talks with India and Japan to construct a container terminal at the port in Colombo, next to a Chinese terminal built as part of Beijing's Belt and Road Initiative, government officials said.

Sri Lanka is a key component of China's 21st Century Maritime Silk Road, with Hambantota Port and Colombo Port City as the two flagship projects of cooperation between the two countries under the Belt and Road Initiative (BRI), Chinese Ambassador Cheng Xueyuan said.

China will invest $1 billion in the construction of three 60-storey buildings at a mega-project near Sri Lanka's main port, Colombo said Tuesday, as Beijing aims to boost its influence in the Indian Ocean.

Sri Lanka has granted approval for a $1.4 billion Chinese-backed real estate project in Colombo to resume construction, ending a year-long delay, Chinese state news agency Xinhua reported on Thursday.

China today asked Sri Lanka to protect the interests of Chinese investors for "healthy development" of economic and trade ties after the new Sri Lankan government began reviewing the big ticket investments, specially the China-funded USD 1.5 billion Colombo Port City project.

In his first television interview since the results of the elections, Sri Lanka's new Prime Minister Ranil Wickremasinghe told NDTV that his government will redress the pro-China tilt of the Rajapaksa regime