Port City Colombo (PCC) has been named the Best Knowledge Zone in Asia-Pacific at the Global Free Zones of the Year 2025 awards organised by fDi Intelligence, a division of the Financial Times.
This prestigious recognition places Sri Lanka’s flagship development project among the world’s top-performing free zones, alongside leading hubs such as the Dubai Multi Commodities Centre, Cayman Enterprise City, and Zona Especial Canaria.
Built on a 269-hectare reclaimed land off the coast of Colombo, Port City Colombo was declared a Special Economic Zone (SEZ) in 2021. Despite recent economic challenges, the project has continued to attract international investment interest.
After weathering a difficult economic period for Sri Lanka, PCC has secured some plans from investors.
Among them is a local subsidiary of IGT Holding | Sweden AB, a software and business process outsourcing services provider. In May 2025, IGT 1 Lanka signed an agreement to lease space in two office buildings in PCC’s business centre.
The judging panel were impressed by PCC’s offer to investors. It offers fiscal incentives including zero personal income tax for expatriate employees and exemptions on tax for developers and investing companies. The commission overseeing PCC’s development has also appointed the International Alternative Dispute Resolution Centre in a bid to give legal certainty to investors.
The fDi Intelligence awards highlight global trends in foreign direct investment (FDI), with nearly half of all free zone projects in 2024 directed towards software, IT, and financial services—a significant shift from a decade ago when these sectors made up just 18% of such investments.
With this recognition, Port City Colombo joins the ranks of the world’s top-performing knowledge zones, positioning Sri Lanka as an emerging hub for global services, innovation, and digital economy investment.
KNOWLEDGE ZONES OF THE YEAR
Global
Winner: Dubai Multi Commodities Centre, UAE
Highly Commended: Cayman Enterprise City, Cayman Islands
Middle East
Winner: Dubai Multi Commodities Centre , UAE
Highly Commended: Dubai CommerCity , UAE
Europe
Winner: Zona Especial Canaria , Spain
Highly Commended: Consorcio de la Zona Franca de Cádiz, Spain
Africa
Winner: Eko Atlantic Free Zone , Nigeria
Asia-Pacific
Winner: Port City Colombo , Sri Lanka
Highly Commended: Tanjung Lesung SEZ , Indonesia
Americas
Winner: Cayman Enterprise City , Cayman Islands
Highly Commended: Zonamerica , Uruguay
--With Agencies Inputs--
