Port City Colombo is strengthening its focus on the Gulf as a key source of investment for its next phase of growth, building on more than US$2 billion in investments secured to date and seeking to deepen its links with UAE-based businesses looking to establish a presence in South Asia.
The investment drive was highlighted at the ‘Sri Lanka Beyond Your Dreams’ engagement in Dubai, where Port City Colombo was presented to more than 400 UAE-based business leaders, investors and institutional stakeholders as a platform connecting Gulf capital and businesses with opportunities across South Asia.
CHEC Port City Colombo Deputy Managing Director Thulci Aluwihare said investments secured by the development have surpassed US$2 billion, with the figure targeted to exceed US$4 billion in the coming years.
The opportunities presented to UAE businesses covered a range of areas, including real estate development, financial services, regional headquarters and business continuity operations. The focus was particularly on businesses seeking to establish or expand their presence in South Asian markets.
The investment push comes as Sri Lanka seeks to strengthen its broader economic relationship with the UAE, including through a proposed Comprehensive Economic Partnership Agreement (CEPA).
Foreign Affairs, Foreign Employment and Tourism Minister Vijitha Herath stressed the importance of finalising the CEPA, saying it would provide a framework for expanding trade, investment and economic cooperation between the two countries. He also positioned Port City Colombo as a vehicle for translating stronger bilateral relations into tangible investment opportunities.
“As a SEZ with a dedicated legal and regulatory framework and competitive incentives, Port City Colombo is where Sri Lanka’s economic mission becomes a physical reality,” Herath said.
“For UAE businesses and investors, PCC offers a modern and internationally designed platform and a natural gateway to South Asia’s growth, while keeping you connected to the opportunities and strengths of the Gulf.”
UAE Minister of Foreign Trade Dr. Thani bin Ahmed Al Zeyoudi also highlighted the opportunities available to the UAE investment community in Sri Lanka, identifying logistics, technology and tourism as sectors with significant potential.
“Sri Lanka offers considerable opportunities for our investment community, which continues to seek long-term, high-impact projects in growing economies,” Al Zeyoudi said.
“From immediate reconstruction needs to the immense potential of its logistics, technology, and tourism sectors, Sri Lanka stands out as one of the most appealing destinations for UAE capital,” he added.
Beyond attracting investment, the Gulf-focused strategy aims to position Port City Colombo as an operating base for Gulf Cooperation Council (GCC) businesses seeking to expand into South Asia. The SEZ is pitching its location, regulatory framework and business environment as a platform through which Gulf-based companies can access regional opportunities.
Colombo Port City Economic Commission Chairman Harsha Amarasekera PC said the changing priorities of Gulf investors were creating opportunities for platforms that offer diversification, resilience and international connectivity.
“At a time when Gulf investors are increasingly seeking diversified, resilient, and globally connected growth platforms, Port City Colombo offers a compelling proposition: a modern Special Economic Zone with an internationally benchmarked regulatory framework, a trusted and neutral business environment, and direct access to one of the world’s fastest-growing regions,” Amarasekera said.
Port City Signs First UAE Free-Zone Partnership
Port City Colombo has entered into its first formal partnership with a UAE free-zone authority, creating a structured pathway for businesses operating within the two special economic zones to access opportunities in Sri Lanka and the UAE.
The Colombo Port City Economic Commission and CHEC Port City Colombo (Pvt) Ltd signed an investment promotion agreement with the Umm Al Quwain Free Trade Zone Authority during the ‘Sri Lanka Beyond Your Dreams’ engagement in Dubai.
The agreement is expected to provide UAE-based businesses with a direct, institutionally supported route into Port City Colombo, while offering companies registered within the Colombo SEZ structured access to the UAE’s established free-zone ecosystem.
According to Port City Colombo, the agreement represents its first formal partnership of this nature with a UAE free-zone authority, establishing a new institutional link between the two jurisdictions.
The agreement was signed by Umm Al Quwain Free Trade Zone Authority General Manager Johnson Modayil George, Colombo Port City Economic Commission Director General Revan Wickramasuriya and CHEC Port City Colombo Deputy Managing Director Thulci Aluwihare.
The partnership adds another dimension to Port City Colombo’s strategy of strengthening international investment links, as the development seeks to attract greater participation from Gulf businesses and position the SEZ as a gateway between the UAE and the wider South Asian market.
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