“Time to recognise that Port City Colombo is owned by Sri Lanka” says former British Prime Minister David Cameron

Former British Prime Minister David Cameron spoke at the Port City Colombo UAE Road Show and emphasised the potential of the Colombo Port City (PCC) as a major economic hub in the region. He served as the guest of honour and discussed various aspects of PCC, including real estate development, regional trade, luxurious residential and retail spaces, and more. Cameron cited successful examples like Dubai International Financial Centre and Singapore to highlight the potential of special economic zones like PCC.

Cameron also acknowledged Sri Lanka’s journey of economic recovery following a 30-year-long war, emphasising the country’s strategic geographic location in the Indo-Pacific region. He noted Sri Lanka’s historical role as a hub for trade and investment, which contributed to regional stability.

Port City Colombo is a multi-billion-dollar project aimed at transforming Sri Lanka’s economic and social landscape. Situated on reclaimed land next to Colombo, it offers a cosmopolitan lifestyle, world-class infrastructure, and sustainability. As a Special Economic Zone (SEZ), PCC provides incentives for businesses, making it an attractive destination for international companies and investors.

Cameron stressed the importance of creating a business-friendly environment in PCC, including initiatives like low taxation to encourage investment. He cited Dubai’s success as an economic hub with favorable conditions and India’s growth due to factors like a common law system, fair taxation, and minimal corruption, suggesting Sri Lanka could draw inspiration from Asian countries.

Cameron expressed optimism about Sri Lanka’s potential and the role of PCC in the region’s future growth, given its strategic location and access to major markets. He commended Sri Lanka’s progress in establishing the Colombo Port City Special Economic Zone and its governance framework.