Press briefing of Cabinet Decision taken on 2024-04-08 (Subject to Confirmation at the next Meeting)

Designating as Secondary Businesses of Strategic Importance

- The proposals made by the Hon. President in his capacity as the Minister of Investment Promotion to designate the following Companies as Secondary Businesses of Strategic Importance and grant exemptions or incentives to such Companies from the Acts indicated under Schedule II of the Colombo Port City Economic Commission Act, and to publish the Orders for the same through the Gazette Notifications, was approved by the Cabinet.

• PORT CITY BPO (PRIVATE) LIMITED - to maintain a business for providing shared Business Process Outsourcing (BPO) services for the overseas entertainment industry.

• IVIVA PTE LTD - to maintain a business for providing Information Technology services that develops Smart City IT - enabled products and solutions to support their diverse portfolio of global clients to transition to low-carbon economy.

• ECHELON TRADE (PVT) LTD - to maintain a business engaged with global trade of textiles, garments, luxury watches, gold and gems, electronics and cosmetics.

• 99X TECHNOLOGY AS - to maintain a business in product engineering and innovations and providing services to global independent software vendors to formulate digital solutions to real user problems through web development, mobile development as well.