The Cabinet of Ministers has approved a proposal to make the Asiri Port City Hospital (Pvt) Company a primary business of strategic importance, through a gazette notification, the Department of Government Information said yesterday.

The proposal was made by President Ranil Wickremesinghe in his capacity as Minister of Investment Promotion.

A department statement said that this would grant the company a number of exemptions or incentives.

Asiri Port City Hospital (Pvt) Company had proposed to develop a hospital within the Colombo Port City with an investment of 100 million dollars, the Information Department said.

This project is eligible for exemptions or incentives under 2(b) of the Colombo Port City (Guidelines on the Grant of Exemptions or Incentives to Businesses of Strategic Importance) Regulations, No. 2 of 2023, the press statement said.

The gazette will later be presented before the Parliament, it said.

(RK)