When we took over PortCity, there were only 03 investments, now 150 are registered.

Minister of Industry and Entrepreneurship Development, Mr. Sunil Handunnetti, revealed that over one hundred and fifty new business investments have been successfully registered to date, centered around the Colombo Port City. The Minister stated this yesterday (19) while participating in the parliamentary debate on the current global situation, as well as the approval of orders under the Colombo Port City Economic Commission Act.

Accordingly, bringing a massive amount of foreign investment into the country, covering an area of 6.3 million square meters, has been the main objective of the current government.

Mr. Handunnetti recalled that although there was opposition to this Port City project due to certain problematic situations in the past, only three investment projects could be attracted throughout the past period, and one of them had stalled midway. However, the current government has intervened and restarted those stalled construction activities. The Minister emphasized that investors could not be attracted since the act was passed due to the corruption and culture of expecting commissions deeply rooted in the family and coalition regimes that existed at the time. Currently, these corrupt practices have been completely eliminated, and the new government has taken steps to act impartially and fairly, without any irregularities.

The political stability of the current government has been a strong factor in building investor confidence, and a High-Level Economic Management Committee has also been established for this purpose under the President's leadership. The government, which has made arrangements to obtain direct Cabinet approval for foreign investments, has also paid special attention to minimizing delays faced by investors. Accordingly, to prevent time wastage occurring when obtaining approvals from about twenty-six institutions, an expedited program to provide all approvals under one roof within a short period of six weeks is currently underway.

The Minister of Industry pointed out that despite the prevailing global crisis and war-like situations, there has been no breakdown in Sri Lanka's economic and supply networks. While essential services, including the fisheries industry, are being maintained continuously, the government has taken steps to provide necessary fuel facilities to thirteen hundred factories without any shortage. Mr. Sunil Handunnetti further stated that due to this strong political and economic stability established within the country, global entrepreneurs have placed strong confidence in Sri Lanka, and this marks the beginning of a massive economic transformation in the country.