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Thursday, 6 February 2020 02:34 - - {{hitsCtrl.values.hits}}
By Charumini de Silva
The Industrial Export and Investment Promotion Ministry is to implement an infrastructure development project at all the Free Trade Zones (FTZs) and Export Processing Zones (EPZs) to provide strong support to firms helping to build the national economy.
“With the change of Government in November last year, Sri Lanka’s business environment continues to improve and Government policy is sending favourable signals to potential investors around the world,” Industrial Export and Investment Promotion Minister Prasanna Ranatunga told the Daily FT.
He said accelerated infrastructure development at FTZs and EPZs was a key promise outlined in President Gotabaya Rajapaksa’s manifesto ‘Visions of Prosperity and Splendour’ as well.
“The Government has identified the need to improve drinking water facilities within FTZs and EPZs and has directed the relevant authorities to submit a proposal on the implementation of the project,” he said.
Ranatunga stated that Rs. 540 million had already been allocated for the development of drinking water facilities in the Seethawakapura FTZ, where 24 factories are in operation with 22,534 employees. The Board of Investment (BOI) has set up 15 FTZs across the country, with Katunayake FTZ being the oldest established in 1978. At present, Katunayake FTZ has 137,478 workers employed at 81 factories, while Biyagama FTZ, which opened in 1985, has 55 factories and employs 28,588 workers. Koggala FTZ has 19 factories that employ 14,689 people.
The Minister also said that the Government intended to open a new FTZ in Eravur, in the Eastern Province.
“We have already identified a 200-acre stretch of land to set up a new FTZ in Eravur in the Batticaloa District of the Eastern Province. We will provide essential infrastructure and steps have been taken to obtain the Environmental Impact Assessment (EIA) reports,” Ranatunga added.
In addition, he said the Ministry was now looking for potential investors for the new FTZ in Eravur.
The Minister also said special attention had been paid to resolve issues at the Bingiriya and Wagawatta industrial zones.
