Ali Sabri, President’s Counsel, Minister of Justice stated that the port city is affected only by the local law of Sri Lanka and accordingly the common law and criminal law applicable here are the law currently in force in the country.
He was speaking at a media briefing on the controversial port city project.
Special economic zones have been set up because we cannot move forward without investment. The investor is looking for a suitable environment for his business. He says that the Colombo Economic Commission started a similar project in 1978.
The total area of the port city is 269 hectares, of which 91 hectares are for public facilities such as roads, 146 hectares or 43% owned by the project company and 23 percent owned by the government. However, all these lands are owned by the government. said.
43% of the port city’s project company is leased to them only for a ninety-nine year lease, and if they are re-leased, the Urban Development Authority must sign off on the lease, claiming that only Chinese companies can invest in the project. Ali Sabri, a lawyer, said it was untrue that a person in any country could invest money.
The port city has been adapted to the Colombo district as an administrative district and all these have been handed over to the Urban Development Authority. The Ministry of Western and Municipalities, the Urban Development Authority and the Port City Project Coordinating Agreement have signed a tripartite agreement in 2016. The Minister said that he was responsible for the city and in the end the entire rights belonged to the government.
The country is currently in the process of enacting the Active Arbitration Act No. 11 of 1995 regarding the Commercial Arbitration Law in this port city and all other laws are the established laws of the country and if arbitration is not able to resolve a commercial case, it is possible to do so through litigation in the Commercial High Court. The Minister further said that a clause has been added by the Act to give priority to cases arising in this port city.
In addition, a commission has been set up to oversee the entire port city system, with a minimum of five or a maximum of seven members to be appointed by the President of Sri Lanka. .