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EDB and CHEC Port City Colombo sign MoU to boost export businesses

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In a significant move towards attracting export-oriented businesses to Port City Colombo, CHEC Port City Colombo (Pvt) Ltd, the primary developer of the project, recently entered into a partnership with the Sri Lanka Export Development Board (SLEDB).

A memorandum of understanding (MoU) was signed between the two parties to this effect at a special ceremony held on the 26 th of April 2024 at the Port City Colombo Sales Gallery.

Signing on behalf of the SLEDB was its Chairman, Dr Kingsley Bernard, while the Managing Director of CHEC Port City Colombo (Pvt) Ltd, Xiong Hongfeng signed for Port City Colombo.

Discussing the importance of the partnership, Hongfeng said, “We are pleased to establish this special partnership with the Sri Lanka Export Development Board, as it is an important step forward in positioning Port City Colombo as a regional logistics/business hub and financial centre in the heart of South Asia. We feel that this collaboration will enable us to promote Port City Colombo as a strategic location for export-oriented businesses to set up operations, whilst ensuring that we provide these
entities the opportunity to further drive the economic development of Sri Lanka.”

Dr Bernard also commented saying, “I believe that the SLEDB partnership with CHEC Port City Colombo (Pvt) Ltd will be a turning point for the Sri Lankan export community. This will help create awareness about the attractive fiscal and non-fiscal benefits and opportunities available for local
exporters, and the establishment of their respective trade/buying office operations within the Colombo Port City Special Economic Zone.”

This partnership will allow Port City Colombo and the SLEDB to seamlessly work in collaboration to promote the Colombo Port City Special Economic Zone as an attractive commercial destination for export-oriented businesses. Accordingly, Port City Colombo will leverage its direct access to global markets, including that of Middle East, Asia-Pacific, and South Asia, whilst the SLEDB will provide the essential expertise and support to prospective businesses.

Together, the two parties will work towards positioning Port City Colombo as an attractive strategic logistics hub in the South Asia region.

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