Opposition Leader Sajith Premadasa has expressed grave concern over reports that HSBC Global Service Centre is planning to shift its Sri Lankan operations to the Philippines.
The Samagi Jana Balawegaya (SJB) leader released a statement on social media platform X highlighting growing threats to foreign investment in the country.
He warned that the potential departure of the multinational financial entity by December 2027 could eliminate 3,000 direct positions alongside 500 indirect jobs.
The Opposition Leader expressed hope that reports regarding the banking giant were unfounded while questioning the stability of the national investment climate.
He urged the government to focus on securing substantial foreign direct investment rather than overseeing the exit of major international corporate entities.
These warnings follow the official cancellation of a USD 392 million logistics hub development at the Port of Colombo involving China Merchants Port Holdings.
The Chinese operator formally disclosed the termination of the South Asia Commercial and Logistics Hub project to the Hong Kong Stock Exchange on 15 October 2026.
Designated as a Strategic Development Project in December 2023 with accompanying tax incentives, the five-storey complex faced severe execution delays, regulatory hurdles, and land allocation issues.
The Chinese firm held a 70 per cent stake via Fortune Centre Group Limited, while Access Engineering PLC and the Sri Lanka Ports Authority each held 15 per cent under a 50-year build-operate-transfer framework.
In its regulatory filing, the firm attributed the closure to shifting external circumstances, operational difficulties, and revised commercial priorities.
Under the resulting settlement agreement, the Sri Lanka Ports Authority agreed to disburse 21.905 million US dollars to the project entity.
Port authorities are now expected to call for fresh investment proposals to utilize the strategically located land parcel.
Sustaining investor confidence through stable policies remains essential to preventing further capital flight and safeguarding local employment opportunities.
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