SriLanka to offer land for development of industrial zones

SriLanka to offer land for development of industrial zones

• In a move to attract private investment, Sri Lanka has announced its plan to offer land for the development of industrial zones. Director General of the Board of Investment, Renuka Weerakone revealed that the Government of Sri Lanka aims to facilitate Public-Private Partnership projects, where investors can establish and operate zones without the need for the government or BOI to invest in capital infrastructure.
• This initiative comes as stability returns to the country, reigniting the interest of foreign investors. Ms. Weerakone highlighted the growing interest from several countries for investment. Additionally, there is anticipation that India, which has been the largest source of Foreign Direct Investment in Sri Lanka, may explore further investment opportunities.
• Sri Lanka has set a target of attracting between 1.5 to 2.0 billion US dollars of foreign investments in 2023, with hopes of boosting economic growth and development.

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Published date : 29 May 2023 05:35PM