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Capitalising the incentives offered to the investors during the last seven years, 1,880 foreign and local industries worth Rs. 860 billion took off the ground, a Board of Investment official told the Daily News.

"He described the reason for such increase due to the investor confidence improved during the period due to the prudent economic management of the Government and incentives offered to them".

The Industrial policy of the government assigns a greater role to the private sector to achieve rapid and sustainable industrial development in the country within the framework of an export oriented industrialisation strategy.

The main objectives of the industrial policy are expansion, diversification and upgrading of both the industrial base and the exports base. In order to achieve this objective an Industrial Master Plan was introduced during this period, he said.

Investors from UK, US, Belgium, Spain, France, Italy, Sweden, Norway, Asia etc. commenced operations of their projects in Industrial Parks which offered a multitude of facilities.

Most of the industries started were Garment and apparel, soft toys, Gems and jewellery, light industries, assembly of electronic and electrical products, wooden furniture, Rubber based products, Food and beverage industries, carton and box manufacture, printing and packaging, etc.

Among the newly set up industrial parks, international standard Seethawaka Industrial Park was one of the main attractions among investors. The Government also set up five more industrial zones in Mirigama, Wthupitiwala, Mawathagama, Polgahawela and Horana in addition the already existing four Exports Processing Zones in Katunayake, Biyagama, Koggala and Pallekele.

Three more Industrial Parks were also established in Mirijjawila, Malwatha and Seethawaka. All these industrial zones provided multitude facilities for new industries and over 235 new industries are now in operation in these parks, the officer said.

"These new industries created over 50,000 employment opportunities in the country", he said.

In addition, the Government established 19 Regional Industrial Parks in many rural areas. Many industries have been started in these parks creating about 30,000 new jobs, he said.

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