Book Launch of the “Foreign Policy Perspectives: Port City Colombo and International Financial Centre” Edited Volume Published by the Ambassadors Forum.

The Ambassadors Forum launched the fourth instalment of the “Foreign Policy Perspectives” book series titled “Foreign Policy Perspectives: Port City Colombo and International Financial Centre” at the Board of Investment auditorium on the 8^th of April 2021. This book launch was jointly organised by the Ambassadors Forum and the Board of Investment.

The event was graced by Mr. RMP Rathnayake, Deputy Secretary to the Treasury, Mr. Sanjaya Mohottala, Chairman of the Board of Investment, Amb. Sarath Wijesinghe PC, President of the Ambassadors Forum and the Chief Editor of the publication, Mr. Jiang Houliang, Managing Director of CHEC Port City Colombo (Pvt) Ltd along with other distinguished guests and contributors to the publication.

Amb. Sarath Wijesinghe PC, President of the Ambassadors Forum and the Chief Editor of the publication in his remarks spoke of the project’s importance in terms of attracting investors worldwide while justifying the need for publications with academic and practical inputs that help shape policy and public discourse. He also recalled the Ambassadors Forum’s 2018 seminar held regarding the Port City project which was a stepping stone to the publication launched. The keynote address was made by Mr. RMP Rathnayake, Deputy Secretary to the Treasury who spoke of the need for Sri Lanka to move away from acquiring national debt from foreign lenders to attracting foreign direct investment as a more sustainable source of financial development.

Contributors to the publication also made presentations on their respective book chapters with General Daya Ratnayake, Chairman of the Ports Authority speaking on the national security aspects of the Port City in relation to securing infrastructure and national assets from external and internal threats.

Admiral Thisara Samarasinghe, former Commander of the Sri Lanka Navy gave his views on the increasing interconnectedness of global trade and how Sri Lanka should expand its horizons in exploring deep sea assets in the Indian Ocean.

Professor Jeeva Niriella of the Faculty of Law, University of Colombo cited extensive case law relating to environmental impact of development to convey that such impacts can no longer be taken for granted when assuring the viability of large scale development projects such as the Colombo Port City.

Amb. D Laksiri Mendis, UN Legal Expert and former Ambassador gave an overview of the necessary legal framework needed for the Port City to function as a Special Economic Zone and the need for supporting legislation on money laundering and other financial crimes to counter the misuse financial concessions given.

Professor Sirimal Abeyaratne Chairman of the Monetary Policy Consultative Committee of the Central Bank spoke of the increasing use of Special Economic Zones by states to attract foreign investors and how Sri Lanka has the late comer’s advantage when implementing the Port City project by making use of the latest technology, intellectual resources and global trends to make the project a success.

Mr. Shakti Devapura, Consultant Researcher of the Ambassadors Forum highlighted the rationale behind producing such a publication to dispel misinformation relating to the Port City by the works of authors with significant authority on the subject matter and also as an instrument that could contribute to rich impartial policy decisions regarding the project.

This publication presents a holistic appraisal of the Port City Colombo project. Eminent contributors who have been handpicked to contribute to the publication includes academics, practitioners and policymakers who have penned expert articles relating to the Port City Colombo’s:

• Financial benefits and viability.

• Security dimensions and implications to the greater geographical region.

• Engineering, construction, sustainability and environmental impacts.

• Strategic value in relation to the current trends in regional and global geopolitics.

• Legal aspects regarding treaties, agreement drafting, jurisdiction and law enforcement.

Some of the key contributors to this publication include Ambassador D Laksiri Mendis, General Daya Rathnayake, Admiral Thisara Samarasinghe, Dr. Palitha Kohona, Dr. Asanga Gunawansa, Professor Jeeva Niriella, Professor Sirimal Abeyratne, Dr. Harsh Cabral, Chandaka Jayasundara PC, Professor Samith Hettige, and Dr. Asanga Gunawansa, along with other experts who have authored twenty five unique chapters relating to the Port City Colombo.

On behalf of BRISL Mr. Yasiru Ranaraja & Maya Majueran contributed The Article ‘A Synergy Between Belt & Road Initiative and Colombo Port City’ highlights the growth of Colombo Port City under China’s Belt & Road Initiative as presented under a few topics and subtopics as,

1. Belt & Road Initiative and Sri Lanka’s Infrastructure Development

1.1 Colombo Port City Entirely as a Foreign Direct Investment

1.2 Concerns Over Sri Lanka’s Sovereignty and Environmental Destruction

2. The Change of status of the Port City Colombo after the 2015 New Government

2.1 The Colombo International Financial City

3. The Port City 2040.

4. A Synergy Between Belt & Road Initiative and Colombo Port City

BRISL Briefly, highlighting the shifts of Colombo Port City from the inception to the current status of the project. Important milestone as the change of agreement in 2015 and the concerns over the environmental and legal side of the project is presented in an emerging manner. Moreover, the 2040 view of the project will be followed by the topic ‘Synergy between Belt & Road Initiative and Colombo Port City’ highlighting the importance of cooperating under China’s Belt & Road Initiative is highlighted.

The book will sold at a price of LKR 3000/= and will be available to be purchased at the Ambassadors Forum’s office at 27/14, Rosemead Place, Colombo 07, Sri Lanka. International or home delivery could be arranged by contacting the Ambassadors Forum on the numbers provided (Postage Not Included).

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