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Port City Colombo opens gates for investment

Port City Colombo opens gates for investment
lankabusinessonline.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from lankabusinessonline.com Daily Mail and Mail on Sunday newspapers.

Sri Lankan court: China-built port board needs public assent - New Delhi Times - India s Only International Newspaper

May 19, 2021 Share COLOMBO, Sri Lanka Sri Lanka’s top court has ruled that some provisions of legislation to set up a powerful economic commission in a Chinese-built port city violate the constitution and require approval by a public referendum to become law. At the center of the dispute are fears that the $1.4 billion port city, part of China’s sweeping Belt and Road infrastructure initiative, could become a virtual Chinese outpost or colony. Sri Lanka’s government is looking to the project as a lifeline for an economy hard stricken by the pandemic. Parliament Speaker Mahinda Yapa Abeywardena read out the Supreme Court’s ruling on the Colombo Port City Economic Commission Bill on Tuesday. The court said the bill could undermine the exclusive lawmaking powers of Parliament by empowering the proposed five-to-seven member commission, appointed by the president, to set and enforce rules within the port city.

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