We have already appointed an internationally reputed specialist in Economics Dr Rajan Sara and former Attorney General Y.J. Wijethilake to prepare the Business framework and the Legal Framework, said Minister of Health, Nutrition and Indigenous medicine Dr Rajitha Senaratne at todays cabinet media briefing.

The government is planning to establish a financial city to become the prominent financial hub in the region and to attract foreign investments from Indian, South Asian and Middle East region as  well as from European countries including England, said  Parliamentary reforms and Media Minister and Cabinet spokesman Gayantha Karunathilaka.

It is expected that this move will increase the flow of foreign capital into the country. It will create many employment opportunities as well.

The proposal was made by Prime Minister Ranil Wickremesinghe .The Ministry of National Policies and Economic Affairs has been advised to draft legislation for the establishment of the Financial City and to obtain required legal Services.

All the lands relating to the project will be owned by the Urban Development Authority and will be given to China on a 99 year lease.
 
In time to come the Port city will become a Financial city.