Bangladesh said they were closely following the development of the Colombo Port City in Sri Lanka, and would facilitate Bangladesh business entities interested in investing in the project. 

In an interview to a Sri Lankan newspaper, Daily Mirror, Bangladeshi High Commissioner to Sri Lanka Tareq Mohammed Ariful Islam said, “Like others in the region, our business community must also be following the developments with interest. It must be featured in their future business expansion plans.”

Noting the enactment of the Colombo Port City Economic Commission Bill, he said, hoping more details would emerge about the “activities of the project.” 

In May this year, the Sri Lanka government enacted a new law, the Colombo Port city Economic Commission Act, to govern the port city area, where it had granted special powers, immunity to members of the commission, and concessions to investors. 

The bill had created a controversy in the country, with opposition leaders claiming that city would convert into a "Chinese colony." On the other hand, the government defended the act, arguing it would facilitate investment, and expedite the process of granting approval to the foreign investment proposals

The island nation is expecting an investment of around $15 billion in the next five years through the project. 
 
The Bangladesh envoy further said, “If we are officially approached, we will do the needful. At the same time, we will also facilitate the matter for our interested business entities.”He also mentioned that Dhaka had supported Sri Lanka at the UNHRC in the spirit of good neighborliness and in view of excellent bilateral relations. 

Earlier, Dhaka had extended a $300 credit line to Sri Lanka which has been struggling to maintain its forex for over a year now.
 
(SAM)