President Ranil Wickremesinghe, serving as the Minister of Investment Promotion, has issued a Gazette notification unveiling the guidelines for investors seeking to engage in duty-free retail trades or operate duty-free shopping malls within the Colombo Port City.
As per the notification, a minimum investment of USD 5 million is required for running duty-free retail businesses.
Moreover, eligibility for consideration necessitates the promoter to possess extensive global experience in duty-free trade operations.
For those interested in running duty-free shopping malls, a minimum investment of USD 7 million is mandated.
This notification is anticipated to spark heightened interest among investors in the Colombo Port City, which is rapidly evolving into a prominent trade and commerce hub in the region.
The initiative not only promises the creation of new employment opportunities but also aims to bolster foreign investments flowing into Sri Lanka.
