UAQ Free Zone and Port City Colombo Sign Agreement to Promote Investment

Dubai, September 2, 2026:

Umm Al Quwain Free Trade Zone (UAQ Free Trade Zone) and Port City Colombo in Sri Lanka have signed an agreement to promote investment and expand business opportunities between the two regions.

The agreement was signed during the second edition of the “Sri Lanka Beyond Your Dreams” event held earlier at this month at the Hilton Dubai Al Habtoor City, organized by the Consulate General of Sri Lanka in Dubai and the Northern Emirates. It is intended to strengthen cooperation between the Colombo Port City Economic Commission, CHEC Port City Colombo (Private) Limited, and the UAQ Free Zone.

Under the agreement, both sides will work to connect businesses and investors, share information about investment opportunities, introduce potential investors to one another, and create platforms for exploring new business prospects.

The organisations also plan to arrange joint roadshows, business meetings, webinars, investor events, and business delegations. They will support investors with enquiries and assist companies interested in setting up businesses in either region.

Johnson M. George, General Manager of the UAQ Free Trade Zone Authority, said:

“We are very pleased to begin this partnership with the Colombo Port City Special Economic Zone. We see it as an important collaboration between two growing business and investment destinations. This is not just an agreement to promote investment between the two regions. We also want to build a strong connection between our business communities. The partnership will give businesses and investors in both regions the opportunity to explore new markets and discover new possibilities. Our aim is to turn this cooperation into real business opportunities and investments. We look forward to building a long-term and mutually beneficial relationship with the Colombo Port City Special Economic Zone.”

Harsha Amarasekera PC, Chairman, Colombo Port City Economic Commission, stated:

“This agreement reflects the growing recognition among UAE free zones that Port City Colombo represents a credible and complementary platform in South Asia. The Colombo Port City Economic Commission is committed to providing a regulatory environment that meets international standards - transparent, investor-friendly, and built on robust legal foundations. Through this partnership with the UAQ Free Trade Zone Authority, we are creating a structured channel through which businesses established in the UAE can seamlessly extend their operations into South Asia, and through which Gulf investors can access one of the world's fastest-growing regions through a platform they can trust.”

Xiong Hongfeng, Managing Director of CHEC Port City Colombo (Pvt) Ltd., said:

“Through this partnership, we look forward to creating new pathways for businesses and investors across both jurisdictions, and to positioning Sri Lanka, through Port City Colombo, as a natural complement to the UAE’s own world-class free zone infrastructure, extending its reach into South Asia The partnership is expected to strengthen business ties between Sri Lanka and the Umm Al Quwain Free Trade Zone, while creating new opportunities for investors and entrepreneurs in both markets.