Fresh boost for export sector with EDB-PORT City Colombo new partnership

Port City Colombo, CHEC Port City Colombo (Pvt.) Ltd and the Sri Lanka Export Development Board (EDB) yesterday announced a new partnership, which would attract export-oriented businesses to the special economic zone.

A memorandum of understanding was signed between the two parties to this effect on April 26, 2024, at Port City Colombo Sales Gallery. Singing on behalf of the EDB was its Chairman Dr. Kingsley Bernard, while CHEC Port City Colombo (Pvt.) Limited Managing Director Xiong Hongfeng signed for Port City Colombo.

Discussing the importance of the partnership, Hongfeng said the partnership is an important step forward in positioning Port City Colombo as a regional logistics/business hub and financial centre in the heart of South Asia.

“We feel that this collaboration will enable us to promote Port City Colombo as a strategic location for export-oriented businesses to set up operations, whilst ensuring that we provide these entities the opportunity to further drive the economic development of Sri Lanka,” said Hongfeng.

Reflecting similar sentiments, Dr. Bernard said the EDB partnership with CHEC Port City Colombo (Pvt.) Ltd would be a turning point for the Sri Lankan export community.

“This will help create awareness about the attractive fiscal and non-fiscal benefits and opportunities available for local exporters and the establishment of their respective trade/buying office operations within the Colombo Port City Special Economic Zone,” he said.

The partnership will allow Port City Colombo and the EDB to seamlessly work in collaboration to promote the Colombo Port City Special Economic Zone as an attractive commercial destination for export-oriented businesses. Accordingly, Port City Colombo will leverage its direct access to global markets, including that of the Middle East, Asia Pacific and South Asia, whilst the EDB will provide the essential expertise and support to prospective businesses.

Together, the two parties will work towards positioning Port City Colombo as an attractive strategic logistics hub in the South Asia region.