Signing of the agreement between BOI and Hutchison Telecommunication
The Board of Investment of Sri Lanka signed a supplementary Agreement with Hutchison Telecommunications Lanka Ltd. to permit the enterprise to set up a warehouse facility to be used for storage at Diyabula Estate, Wattala.
The Agreement was signed on behalf of the BOI by Chairman Mangala Yapa and Hutchison Telecommunications Lanka Ltd. Chief Executive Officer Thirukumar Nadarasa. Also present was Hutch Head of Finance Kamalapriya Bandunath de Alwis.
With reference to his Company and the Agreement with the BOI, Nadarasa stated: “We launched 4 G services in the western region and eastern region of the island; our next aim is to extend our services to the Southern Province. The merger between Etisalat and Hutch is proceeding on schedule. Everything is moving according to our plans and we have not been too disrupted by recent events. We continue with our investment in the country which is proof of our confidence in the long-term prospects of Sri Lanka.”
Mobile services in Sri Lanka are highly developed with five operators in the country. In December 2018 it was estimated that there were 32,528,104 mobile phones in the country (or 150 mobile phones per 100 inhabitants). In contrast there are 2,484,676 land lines (or 11.5 fixed line phones per 100 inhabitants).
The widespread use of mobile phones in Sri Lanka has created enhanced opportunities for communications and knowledge dissemination.