An exclusive invitation-only event at the Ritz-Carlton DIFC convened around 200 prominent business and diplomatic figures from the UAE to discuss Sri Lanka’s potential as a hub for regional development.
The Sri Lankan Embassy in the UAE, along with the Consulate General in Dubai and the Northern Emirates, partnered with the Colombo Port City Economic Commission and CHEC Port City Colombo Pvt. Ltd. to organize a diplomatic and investment forum titled “Globalisation and the Sri Lankan Opportunity – From Recovery to Relevance: Sri Lanka’s Moment in the Evolving Global and Regional Economy.” This event took place at The Ritz-Carlton in the Dubai International Financial Centre.
This forum attracted senior leaders from various UAE corporations and business chambers, as well as high-ranking diplomatic and investment officials from Sri Lanka. Notable participants included executives from major companies like Sobha Realty, Binghatti, Oracle, Emirates Airlines, First Abu Dhabi Bank, JLL, Cushman & Wakefield, CBRE, IFS, Danube, and Samana Developers, highlighting the significant interest from the UAE’s leading industries in Sri Lanka’s changing economic landscape.
In his opening remarks, H.E. Prof. Arusha Cooray, Sri Lanka’s Ambassador to the UAE, emphasized the strong and enduring partnership between the UAE and Sri Lanka. He spoke of the decades of trade and shared goals that have characterized their relationship, expressing Sri Lanka’s dedication to enhancing this partnership by showcasing its offerings to UAE businesses looking to expand in South Asia.
The keynote presentation was made by Mr. Ghanim Al Falasi, CEO of Falak Tayyeb Platinum and Senior Vice President/Director General at Dubai Silicon Oasis. He shared insights from his extensive experience in the UAE’s innovation and technology sectors, discussing the opportunities that South Asia presents for forward-thinking UAE businesses. He pointed out that while Dubai grants global access to finance and logistics, Colombo serves as a strategic entry point to South Asia. Together, these two cities can complement each other, fulfilling different yet interconnected roles in the regional economy.
H.E. Hanif Yusoof, Sri Lanka’s Presidential Special Envoy for Foreign Investment, offered insights into the nation’s investment strategy. He stressed the government’s commitment to Port City Colombo as a key driver for long-term economic transformation. Yusoof framed Sri Lanka as a story of transformation rather than mere recovery, highlighting its unique position in South Asia as a credible jurisdiction ready for investment. He encouraged UAE businesses to view Port City Colombo as a gateway to South Asia, akin to how Dubai functions as a gateway to the Middle East and North Africa.
Mr. Harsha Amarasekera PC, Chairman of the Colombo Port City Economic Commission, provided an update on the commercial progress of Port City Colombo, noting the robust investment interest that has emerged over the past 12 to 18 months, resulting in visible advancements. He described the project as a supportive and collaborative platform for UAE companies aiming to enter South Asia, rather than a rival to the Gulf’s established business ecosystem.
Mr. Revan Wickramasuriya, Director General of the Commission, discussed the governance framework supporting Port City Colombo. He highlighted the investor protection measures, long-term tax incentives, and a rules-based regulatory environment that differentiate the Special Economic Zone, emphasizing that it was designed to meet the needs of globally mobile capital from the outset.
A key feature of the forum was a moderated panel discussion that connected various themes, including the global shift in business models, the deepening ties between the Gulf and South Asia, and Sri Lanka’s distinct role in this evolving scenario. The panel, moderated by Kris Wadia, included industry experts such as Aaron Russell-Davison, Skandan ‘Ramesh’ Mahalingam, Bapsy Dastur, and Thulci Aluwihare, who shared diverse insights from their fields, leading to an engaging and informative dialogue that resonated with the audience.
The event also marked the formal inclusion of Mr. Mujtaba Shaikhani, Founder and Principal of MH Investments and Managing Director of Gulf O Flex, as a Strategic Partner and Director for GCC and Pakistan at CHEC Port City Colombo (Pvt) Ltd. His firm operates across the UAE, Saudi Arabia, and Sri Lanka, and he has been recognized on the HVAC Power 30 list and as CEO of the Year by CBN Middle East.
The program concluded with remarks from Hon. Alexi Gunasekera, Sri Lanka’s Consul General in Dubai and the Northern Emirates. He expressed optimism about the potential for enhanced UAE-Sri Lanka trade and his commitment to promoting Sri Lanka’s opportunities across the Middle East and UAE. Gunasekera underscored that Sri Lanka aims to engage with Dubai not by recounting past achievements but by inviting UAE businesses and investors to participate in a promising narrative currently being shaped.
Mr. Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd, reflected on the forum’s importance for Port City Colombo’s outreach in the region. He stated, “The interest we have seen from some of the UAE’s most significant businesses and investors at this forum reflects what Port City Colombo stands for: not just a development project in Sri Lanka, but a platform for South Asia that provides the regulatory clarity, quality infrastructure, and regional connectivity essential for globally mobile businesses and investments.”
This forum represents a pivotal moment in Sri Lanka’s strategic engagement with the Gulf investment community and strengthens Port City Colombo’s role as a vital platform for facilitating the next phase of growth in South Asia for UAE investors. The successful delivery of this engagement was a result of close collaboration between the Consulate General of Sri Lanka in Dubai and Port City Colombo, with the Consulate playing a key role in showcasing the depth and ambition of bilateral relations.
For further information regarding investment opportunities within the Colombo Port City Special Economic Zone, please visit www.portcitycolombo.lk. For details on the regulatory framework, Single Window Investment Facilitation services, registered businesses, and application procedures, please visit www.portcitycolombo.gov.lk.
Photo caption: (From left) Mr. Kris Wadia, Founder of Tech Emirates Advocates; Mr. ‘Ramesh’ Skandan Mahalingam, Board of Governor of IBPC Dubai and Managing Director of Ideal Capital Management Consultants; Mr. Aaron Russell-Davison, Managing Director of SRP International and Director of Guernsey Finance Middle East; Ms. Bapsy Dastur, Chief Legal Strategist and Board Director; and Mr. Thulci Aluwihare, Deputy Managing Director of CHEC Port City Colombo.
Source: Financial Chronicle Biz English | Sri Lanka Business News.
