SRI LANKA COURTS GULF CAPITAL AS PORT CITY COLOMBO TAKES CENTRE STAGE IN DUBAI

As global businesses rethink supply chains, investment destinations and regional growth strategies, Sri Lanka is seeking to redefine its place on the economic map. At an exclusive high-level forum in Dubai, the island nation presented itself not as a country recovering from crisis but as an emerging gateway to South Asia, with Port City Colombo at the heart of its ambitions.

Held at the Ritz-Carlton Dubai International Financial Centre, the invitation-only event, titled Globalisation and the Sri Lankan Opportunity – From Recovery to Relevance: Sri Lanka’s Moment in the Evolving Global and Regional Economy, brought together approximately 200 senior business executives, investors and diplomatic leaders from across the United Arab Emirates. The gathering reflected a growing interest among Gulf businesses in exploring opportunities beyond their traditional markets and into one of the world’s most dynamic regions.

Organised jointly by the Embassy of Sri Lanka in the United Arab Emirates, the Consulate General of Sri Lanka in Dubai and the Northern Emirates, the Colombo Port City Economic Commission and CHEC Port City Colombo Pvt. Ltd., the forum served as a strategic platform to showcase Sri Lanka’s evolving economic narrative and strengthen ties with one of its most important international partners.

The calibre of attendees underscored the significance of the occasion. Senior representatives from major UAE and international organisations including Sobha Realty, Binghatti, Oracle, Emirates Airlines, First Abu Dhabi Bank, JLL, Cushman & Wakefield, CBRE, IFS, Danube and Samana Developers joined discussions on investment, connectivity and regional expansion. Their presence highlighted the growing attention being paid to Sri Lanka’s efforts to reposition itself as a destination for global capital.

Opening the forum, Sri Lanka’s Ambassador to the UAE, Professor Arusha Cooray, reflected on the longstanding relationship between the two countries. Built on decades of trade, migration and economic cooperation, the partnership has matured alongside the rapid growth of the Gulf region. Yet the ambassador argued that a new chapter is emerging, one in which Sri Lanka can offer more than historical ties and tourism appeal. Instead, it can serve as a platform for UAE businesses seeking access to South Asia’s vast consumer markets and expanding economies.

That theme was reinforced throughout the event. Speakers repeatedly drew parallels between Dubai’s transformation into a global business hub and Sri Lanka’s aspirations for Port City Colombo. The message was clear: while Dubai serves as a gateway connecting businesses to the Middle East, Africa and beyond, Colombo can perform a similar role for South Asia.

One of the forum’s most closely watched addresses came from Ghanim Al Falasi, Chief Executive Officer of Falak Tayyeb Platinum and a senior executive associated with Dubai Silicon Oasis. Drawing on his extensive experience in the UAE’s innovation ecosystem, Al Falasi argued that future growth would increasingly depend on interconnected regional hubs rather than isolated markets.

He noted that Dubai’s strengths in logistics, finance and global connectivity complement Colombo’s strategic location along some of the world’s busiest maritime routes. Rather than competing, the two cities can function as mutually reinforcing platforms that enable businesses to expand across regions with greater efficiency and flexibility.

Such thinking reflects broader trends shaping the global economy. Geopolitical shifts, supply-chain diversification and the search for new investment destinations have encouraged companies to establish multiple regional bases. For Gulf businesses already operating successfully in the Middle East, South Asia represents an attractive frontier, with its large populations, growing middle classes and increasing demand for infrastructure, technology and services.

Sri Lanka’s Presidential Special Envoy for Foreign Investment, Hanif Yusoof, sought to place the country firmly within that conversation. Addressing the audience, he emphasised that Sri Lanka’s story should no longer be framed solely through the lens of recovery following recent economic challenges.

Instead, he presented the country as a transformation story, highlighting reforms, renewed investor confidence and the development of Port City Colombo as a long-term economic platform. According to Yusoof, Sri Lanka offers a rare combination of geographical proximity to major South Asian markets and a governance framework designed to meet international expectations.

His comparison between Colombo and Dubai was particularly striking. Just as businesses use Dubai as a gateway to the Middle East and North Africa, he suggested, companies established in the Gulf could use Port City Colombo as a gateway into South Asia without having to build entirely new operational foundations.

The vision for Port City Colombo was explored in greater detail by Harsha Amarasekera, Chairman of the Colombo Port City Economic Commission. He highlighted the increasing momentum surrounding the project, pointing to growing investor interest and visible progress over the past 12 to 18 months.

Amarasekera stressed that the development is not intended to compete with established Gulf business centres. Instead, it is designed to complement them by providing companies with an additional regional base from which to pursue opportunities across South Asia. The emphasis on partnership rather than rivalry appeared to resonate strongly with the Dubai audience, many of whom already operate across multiple international markets.

Further insights into the project’s regulatory framework were provided by Revan Wickramasuriya, Director General of the Commission. He outlined the governance structures, investor protections and long-term tax incentives that underpin the Special Economic Zone.

For international investors, governance and regulatory certainty often matter as much as location. Wickramasuriya argued that Port City Colombo’s framework was specifically designed to satisfy the expectations of globally mobile capital, providing a transparent and rules-based environment capable of supporting long-term investment decisions.

The centrepiece of the forum was a panel discussion examining the broader relationship between the Gulf and South Asia. Moderated by Kris Wadia, the conversation featured experts from finance, governance, real estate and business development, including Aaron Russell-Davison, Skandan “Ramesh” Mahalingam, Bapsy Dastur and Thulci Aluwihare.

Together, they explored how changing economic realities are reshaping investment patterns and business strategies. Their discussions highlighted growing commercial interdependence between Gulf economies and South Asian markets, as well as the opportunities created by technological advancement, infrastructure development and demographic growth.

The audience response suggested that these themes struck a chord. Many UAE businesses are increasingly looking beyond traditional markets in search of diversification and long-term growth. Sri Lanka’s pitch as a stable, strategically located and investment-friendly platform appeared well aligned with those ambitions.

The forum also included a symbolic step towards deeper regional engagement with the announcement of Mujtaba Shaikhani as Strategic Partner and Director for GCC and Pakistan of CHEC Port City Colombo. Founder of MH Investments and Managing Director of Gulf O Flex, Shaikhani brings extensive business networks spanning the UAE, Saudi Arabia and Sri Lanka.

His appointment reflects Port City Colombo’s strategy of building partnerships with influential business leaders capable of connecting the project with investors across the Gulf region. Such relationships are likely to play a crucial role in attracting capital and accelerating commercial activity within the development.

Closing the event, Consul General Alexi Gunasekera spoke of the untapped potential in UAE–Sri Lanka economic relations. He emphasised that Sri Lanka’s message in Dubai was not focused on its past achievements or challenges but on future possibilities.

The invitation extended to Gulf investors was straightforward: become part of a new chapter in Sri Lanka’s economic journey. In that narrative, UAE businesses are not merely observers but potential partners in shaping the country’s next phase of growth.

For CHEC Port City Colombo Managing Director Xiong Hongfeng, the strong turnout and engagement from major UAE firms demonstrated the growing international relevance of the project. He described Port City Colombo as more than a real-estate development, portraying it instead as a regional platform capable of connecting global capital with South Asian opportunities.

The event marked a significant milestone in Sri Lanka’s outreach to the Gulf investment community. It also reflected a broader shift in how the country is presenting itself to the world. Rather than focusing solely on tourism, exports or post-crisis recovery, Sri Lanka is increasingly promoting itself as a strategic hub positioned at the crossroads of major economic corridors.

Whether Port City Colombo ultimately fulfils its ambitious vision remains to be seen. Large-scale economic projects are often judged over decades rather than years. Yet the enthusiasm displayed in Dubai suggests that international investors are willing to listen to Sri Lanka’s new story.

In an era when businesses are seeking resilient, well-connected and investment-friendly platforms, Sri Lanka believes it has a compelling proposition. The message delivered at the Ritz-Carlton DIFC was one of confidence, partnership and opportunity: a declaration that the country sees itself not on the periphery of regional growth, but at its centre, ready to connect Gulf capital with the vast possibilities of South Asia.