Colombo Port City Economic Commission Act, No. 11 of 2021.

This Act provides for the establishment of a special economic zone; and for matters connected therewith or incidental thereto.
There shall be established a Special Economic Zone to be called the Colombo Port City Special Economic Zone. The Colombo Port City Economic Commission shall be established. The objectives of the Commission shall include: (a) promote the Colombo Port City to be a leading Special Economic Zone in the region and an attractive investment destination; (b) attract enhanced foreign direct investments into the country; (c) create a safe and conducive business environment and facilitate ease of doing business in; (d) ensure ease of transacting its business operations and administration efficiently, reliably and transparently in order to enhance investor confidence; etc. The Commission is empowered to grant registrations, licences, authorisations and other approvals to carry on businesses and other activities in and from such zone.
The Act further makes provisions, inter alia, for: master plan of the Colombo Port City Special Economic Zone, appointment of the director general of the Commission, fund of the Commission, authorised persons to be permitted to engage in business in and from the Area of Authority of the Colombo Port City, lease of marketable land, or transfer on freehold basis, lease or rent of condominium parcels, in designated foreign currency (other than in Sri Lanka Rupees), etc.