Sri Lanka's state minister of national policies and economic affairs, Harsha De Silva said this week the Chinese funded Port City development in Hambantota would have a financial centre functioning under its own new laws.
“We’re in the process of finalising the Port City legal framework but nothing we do in the Port City will be contra the constitution,” De Silva said, attempting to assure that the City would remain within the current constitutional framework.
“What we want to do is deal with the inconsistency in policy, regulation, and law, so anyone who invests knows English law applies,” he was further quoted by Economy Next as saying.
“If you have that peace of mind, then you are more likely to invest long term.”
"If the work with the Port City succeeds it can be extended to the rest of the country."