BOI opens new administration building at Horana EPZ

Thursday, 24 September 2020 03:52 - - {{hitsCtrl.values.hits}}

From left: HDDS Chairman H.D. De Silva, BOI Executive Director (Zones) M.K.D. Lawrence, BOI Director General Sanjaya Mohottala and BOI Senior Deputy Director Sujeewa Thilakumara

The Board of Investment (BOI) recently opened its new administration building at Horana Export Processing Zone (EPZ).

A total of Rs. 46 million was invested to construct the fully furnished building, which was ceremonially opened by BOI Director General Sanjaya Mohottala. The as attended by a large number of investors, Government officials and senior officials of the BOI.

Chief Guest of the event Sanjaya Mohottala addressing the gathering said Sri Lanka’s biggest challenge is to maintain the gross domestic production (GDP) at 6% for next 10 years.

“The main role of the BOI is to uplift the economy, while attracting foreign direct investment (FDI). We need to provide the necessary infrastructure facilities for the investors. Further, healthy investment climate should be created in the country. We have to be more proactive instead of reactive,” he added.

The Director General also said that steps are being taken to develop thrust sectors for investment such as pharmaceuticals, agriculture processing, ICT, aquaculture and rubber.

Pointing out that BOI’s responsibility is to provide with more efficient service to investor community, he said initiatives are under way to address them in the immediate future.

HDDS Ltd. Chairman H.D. De Silva, BOI Executive Director M.K.D. Lawrence, and BOI Senior Deputy Director Sujeewa Thilakumara also spoke at the occasion.

Horana Export processing Zone was established in 1999 on a land of 390 acres of which 181 acres are industrial land. The infrastructure facilities at the zone include water, the processing of waste water and electricity, making it attractive to investors.

The zone’s enterprises have a significant impact on the local economy as they provide direct employment of 3,375 people and the indirect employment would be doubled. The Horana EPZ therefore promotes the Government’s objective to develop regional industrialisation. The total export revenue of the zone in 2019 was Rs. 8,632 million.

There are 21 enterprises in commercial operation at the Horana EPZ involved in the manufacture of apparel and accessories, food, wooden, consumer, steel and aluminium and plastic products.

New administration building of Horana EPZ