November 18, 2024
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    International Financial Centre for Colombo Featured

    July 01, 2016

    Government has planned to establish an International Financial Centre in Colombo. The proposed centre will help the nation to face the local and global financial fluctuations effectively. Currently such financial centres are found in Hong-Kong and in Singapore.

     

    The attention has also been paid to establish an independent financial zone in Sri Lanka allowing any local or foreign company or person to investment. Defining the legal framework is carried out.

     

    The State Minister of Finance Lakshman Yapa Abeywardhena  said that, this zone would generate job opportunities for 15,000 Sri Lankans and limit them from seeking foreign employment. Based on the anticipated income, the contribution from the centre is expected to increase the contribution to GDP by 10% within the next five years.

     

    A special judicial system will also be established to solve conflicts.

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