The Government would keep on promoting the financial city (IFC) concept for the Colombo Port City said Project Director Colombo Port City Nihal Fernando.
Colombo International Financial City will be a special financial zone at the Colombo Port City giving special incentives to investors and banks.
The financial centre will be operated similar to IFC’s in Dubai, Singapore and Hong Kong. International Financial Centres such as London, New York, and Tokyo -are large international full-service centers with advanced settlement and payments systems.
To establish the IFC, the Government is expected draw up new regulations covering banking and financial transactions, company law, recruitment and employment rules, arbitration laws and all special regulations and laws needed.
He said that the piling for the nine bridges has now been completed and they expect the total project to be completed by 2041. (SS)
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