Colombo Port City a Chinese colony ? Media Center for National Development replies to 7 key allegations

April 17, 2021 at 4:40 PM

The Media Center for National Development has answered for 7 key allegations levelled against Colombo port city commission bill.

Media Center for National Development says that allegations that Colombo Port City will become a Chinese colony are false and baseless.

  • Why is the Port City Commission being established?

A new Commission will serve as a one-stop shop for the convenience of investors. This will include all government institutions under one umbrella. Accordingly, the issuance of visas, bank licenses and other services to foreigners entering the Port City will be carried out by the relevant Sri Lankan government agencies, in accordance with Sri Lankan law.

  • Who controls the Port City?

The Port City is governed by Sri Lanka as the members of the Commission are appointed by the President of Sri Lanka. The President has the power to remove those members at any time. If the members commit an offense, they can be brought before Sri Lankan courts at any time.

  •  Is investment limited only to Chinese investors?

No. Business people from any country can invest in the Port City. A Sri Lankan businessman has already come forward to invest. Tax incentives have been introduced to encourage investors.

  • Can I transact in rupees? 

In the Port City, transactions can be done in Sri Lankan rupees and other accepted currencies. Since standard transactions will be carried out in a foreign currency, a small exchange fee may be charged for transactions in other currencies.

  • Can Sri Lankans work within the Port City?

Any Sri Lankan can work in the Port City. They will be paid in foreign currency, and their salaries can be deposited in local bank accounts and will be tax free.

  • Who is the police within the Port City?

The Sri Lanka Police will operate within the Port City, and any cases will be tried within Sri Lankan courts.

  • Does the average citizen need a visa to enter?

No visa is required to enter the Port City. Anyone can enter the Port City, for many reasons such as work, leisure, shopping, entertainment, and living.