Question:
What is the significance of the Colombo Port City Project for Sri Lanka’s economy?
(1) It is a major initiative to attract foreign investment and trade.
(2) It aims to develop a shipyard for container handling.
(3) It focuses on increasing domestic production.
(4) It focuses exclusively on creating jobs in Colombo city.
(5) It prioritizes development in Sri Lanka’s tourism sector over other industries.
Correct Answer:
(1)
Answer Explanation:
The Colombo Port City is a massive special economic zone (SEZ) built on reclaimed land. Its primary macroeconomic objective is to function as a premier financial and services hub in South Asia, specifically designed to attract large-scale Foreign Direct Investment (FDI) and multinational corporate headquarters.
Topic: Sri Lankan Economy Year: 2024
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