Over 14,000 visas issued to foreigners on Port City Commission’s recommendations

The Colombo Port City Economic Commission’s recommendations were linked to the issuance of about 14,300 visas for foreign nationals, the Committee on Public Finance was told. The committee considered the matter at a meeting on Oct. 8 led by MP Harsha de Silva. A parliamentary statement about the meeting was released on Oct. 15.

Members examined how foreign nationals arriving through this recommendation process, including foreign workers, could be monitored. They also called for stronger rules to counter unlawful conduct in Colombo Port City and protect Sri Lanka’s standing internationally.

The committee asked how authorities establish who ultimately owns companies investing in Port City, maintain openness around foreign investment and guard against money laundering and terrorist financing. It reviewed project progress and whether businesses approved to operate there had opened, and whether projected investment and job creation had occurred.

Officials reported that nine plots had been leased at a combined value of around US$1.12 billion, with six additional plots worth US$1 billion planned for leasing. Four government-owned plots were being prepared to enter the market. Leases were for 99 years, at an average of about US$3,000 per square metre.

Members also discussed protections for deposits from people purchasing condominium units; the available report gives no further detail on that issue.