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

The Media Center for National Development has answered 7 key allegations leveled against the 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.

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.

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.

Business people from any country can invest in Port City. A Sri Lankan businessman has already come forward to invest. Tax incentives have been introduced to encourage investors. In 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.

Any Sri Lankan can work in Port City. They will be paid in foreign currency, and their salaries can be deposited in local bank accounts and will be tax-free. The Sri Lanka Police will operate within the Port City, and any cases will be tried within Sri Lankan courts. No visa is required to enter Port City. Anyone can enter Port City, for many reasons such as work, leisure, shopping, entertainment, and living.

-Newswire

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