Port City Colombo project to add 13.8 bln USD to Sri Lankan economy: PwC
Posted on November 10th, 2021
Courtesy NewsIn.Asia
COLOMBO, Nov. 10 (Xinhua) — Sri Lanka’s Port City Colombo project will add 13.8 billion U.S. dollars to the country’s economy once fully operational, local media citing a study by PricewaterhouseCoopers (PwC) reported here Wednesday.
The PwC study evaluated the impact of the Port City Colombo project on macroeconomic variables including employment, GDP, FDI, balance of payments, and government revenue, and was presented to the Colombo Port City Economic Commission on Tuesday.
The study found that the project could progressively attract additional investments up to 12.7 billion dollars over the next 20 years.
The study said that the construction and operational phases of the project would benefit the national economy if it is properly integrated with the local economy.
The Colombo Port City was built by China Harbor Engineering Company. The project will be Sri Lanka’s first special economic zone for high-end services.