Six new investment zones in North, East and NWP | Page 2 | Sunday Observer

Six new investment zones in North, East and NWP

24 May, 2023

The government has planned to build six new investment zones in the North, East and North-Western provinces in anticipation of rapid economic development of the country.

Investment Promotion State Minister Dilum Amunugama said that these investment zones will be established for promoting agricultural exports. 

He said that the President has given instructions to start new industrial estates in Trincomalee, Mankulam, Paranthan and KKS areas, and in Iranawila and in Bingiriya in the North-Western Province.

He said that the two areas as system A and B in Mahaweli zone have been identified for export crops and the necessary arrangements are being made to convert the lands around Polonnaruwa and Ampara into ones suitable to grow crops suitable for exports. He also said that there is a need to build new investment zones as the space in the existing zones is limited.

Amunugama said apparel exports have shown a decline due to the effects of COVID.

He said however that the closure of apparel factories will not happen and if such factories are facing difficulties concessions will be given through the BOI.