Cabinet approves land allocation for 26 potential investors

Monday, 17 October 2011 00:00 -     - {{hitsCtrl.values.hits}}

By Uditha Jayasinghe

Cabinet approval has been given for the Sri Lankan Government to allocate land in special industrial estates countrywide.

Sri Lanka is seeing significant economic growth after the end of a three-decade conflict that ended in 2009. The Government has set an aggressive plan to increase investment with both local and foreign investors.

On a proposal made by Industry and Commerce Minister Rishad Bathiudeen, the Cabinet has approved allocation of land from several industrial estates to 26 potential investors.

The Regional Industrialisation Strategy of the Government is aimed at developing industrial activities at regional level to encourage utilisation of local raw materials and human resources, Cabinet Spokesman Minister Keheliya Rambukwella told the media.

Towards these objectives, 24 industrial estates have been established and most of the land plots have been allocated to potential investors, he added.

Over 271 industrial companies are now in commercial operation and 46 are under construction.