Port City to Open Job Opportunities for Youth – Minister | Page 2
Justice Minister Ali Sabry, PC during his recent official visit to the port city of Colombo to inspect the progress of on-going development activities stressed that this newly constructed urban complex will go a long way in bringing new investments to inflate the economy of the country to a greater extent in the years.
He said that the port city will certainly help provide new employment opportunities for young people in many fields, especially in the field of technology. “In addition, the port city will also provide many world famous entertainment facilities for the benefit of young people,” he said.
Many foreign investors have expressed their readiness to launch various business activities in the port city. The port city is a mixed development project and around 4,000 employees worked in various construction works at the start. It is also said that in the first ten years, around 10,000 Sri Lankans will be directly employed in the port city and that after the completion of the whole project, it is expected to offer 83,000 direct employment opportunities and indirect.
The Port City Investors Project was built on 269 hectares and construction work began jointly at the initiative of then President Mahinda Rajapaksa and Chinese President Xi Jinping. The port city of Colombo, which was built on 269 acres, is expected to invest more than $ 5.5 million in FDI over the next five years. It includes a high-rise building for the International Financial City, a luxury residential complex, a 7-star hotel complex and a mixed development project to be implemented in two phases.
Minister Sabry also said that the Colombo Port City Project will accelerate the country’s development plans and is keen to implement the necessary laws and regulations for future developments.
The minister also appreciated the government’s decision to accelerate the construction of bridges, water distribution projects, construction of highways and many other developments in the country despite the current pandemic situation in the country.