|
|
 |
 |
 |
| Thursday, 25 September 2003 |
 |
|
 |
Business | |
| News Business Features Editorial Security Politics World Letters Sports Obituaries
|
Duty free complex in Colombo mooted By Channa kasturisinghe Commerce and Consumer Affairs Minister, Ravi Karunanayake will propose to the Government to set up a duty free complex in Colombo in a bid to make it a tourism and investment destination in the region to compete with Dubai and Singapore. The Minister is due to submit a Cabinet Paper in this regard soon, Ministry sources told the Daily News yesterday. "The Minister has identified the potential of Colombo to become an alternative destination for big-time spenders especially from India and other South Asian countries who at present go to Singapore and Dubai for their duty free shopping needs. The number of multi-millionaires we can attract from India would be a significant amount when compared with high spenders from any other country including Europe," a Ministry official said. He said the Minister is also planning to set up a `gold-centre' in Colombo to attract buyers who now flock to Dubai for cheap gold. "The Minister said that it would trigger much needed foreign exchange to the country and make Colombo an attractive tourist destination," the official said. He said the setting up of a duty free complex would also attract foreign investors and suppliers of electronic and other items of major brand names. |
|
News | Business | Features
| Editorial | Security
Produced by Lake House |
