EDB and CHEC Port City Colombo inks MoU to boost export-oriented businesses

Tuesday, 30 April 2024 00:38 - - {{hitsCtrl.values.hits}}

EDB Chairman Dr. Kingsley Bernard (left) and CHEC Port City Colombo Managing Director Xiong Hongfeng

CHEC Port City Colombo Ltd., entered into a partnership with Sri Lanka Export Development Board (EDB) in a move towards attracting export-oriented businesses to Port City Colombo.

The partnership will allow Port City Colombo and the EDB to seamlessly work in collaboration to promote the Colombo Port City Special Economic Zone as an attractive commercial destination for export-oriented businesses.

A memorandum of understanding (MoU) was signed between the two parties to this effect at a special ceremony held on 26 April at the Port City Colombo Sales Gallery. EDB Chairman Dr. Kingsley Bernard and CHEC Port City Colombo Ltd., Managing Director Xiong Hongfeng signed the MoU.

Highlighting the importance of the partnership Hongfeng said: “We are pleased to establish this special partnership with the Sri Lanka Export Development Board, as it is an important step forward in positioning Port City Colombo as a regional logistics/business hub and financial centre in the heart of South Asia. We feel that this collaboration will enable us to promote Port City Colombo as a strategic location for export-oriented businesses to set up operations, whilst ensuring that we provide these entities the opportunity to further drive the economic development of Sri Lanka.”

Dr. Bernard said: “I believe that the EDB partnership with CHEC Port City Colombo Ltd., will be a turning point for the Sri Lankan export community. This will help create awareness about the attractive fiscal and non-fiscal benefits and opportunities available for local exporters, and the establishment of their respective trade/buying office operations within the Colombo Port City Special Economic Zone.”

Accordingly, Port City Colombo will leverage its direct access to global markets, including that of Middle East, Asia-Pacific, and South Asia, whilst the EDB will provide the essential expertise and support to prospective businesses. Together, the two parties will work towards positioning Port City Colombo as an attractive strategic logistics hub in the South Asia region.

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