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By Shirajiv Sirimane

The Secretary to the Prime Minister, Bradman Weerakoon said that there are major investment opportunities that are opening in the North-East that needs investors.

"These investment opportunities in the North East are running into several billion dollars and Sri Lanka is opening them to foreign investors," he told a major Investment Forum, Intrad at the BMICH on Wednesday. One of the major projects in the North East is the re building of the A 9 road from Vavuniya to Jaffna. "The government is hoping to upgrade this road into a four- lane highway.

Weerakoon said that another project will be the building of a road network and bridge linking Tricomalee, Mannar and India. The proposed road network is to start from the Trincomalee harbour and will open major business opportunities between the two countries.

He said plans are under way to build a highway linking Tricomalee and Mannar to transport goods mainly to the harbour. "In addition there is so much urgent reconstruction work in the North East that the government is planning and these projects too needs investors."

He said that there are tremendous investment opportunities in the tourism sector. "If tourism really gets going in the North East arrivals can reach the 80% mark."

Chairman, BOI, Arjuna Mahendran said that if there are investors who are ready to invest over US $ 75 million the government will give them the maximum benefits and there would be no red tape for them. Minister of Power and Energy, Karu Jayasuriya who was the Chief Guest at the opening ceremony of the three-day Intrad 2002 export exhibition at the BMICH said that within the next six years the whole of Sri Lanka will have electricity which will open the doors for more investment opportunities. "The proposed bridge linking India and Sri Lanka will also open several new avenues of business."

The Minister assured the local and international business community that the government would ensure good governance and sound economic policies specially towards the private sector. "With the ongoing peace process Sri Lanka will soon become the hub of activity in South Asia."

National Chamber of Commerce of Sri Lanka, Chairman, Chandra Embuldeniya said that Sri Lanka's economy depends heavily on foreign investments. "The nation needs more foreign investors and more international buyers."

Ministers Ravi Karunanayake, G. L. Peiris and Tyronne Fernando were also present at the opening ceremony.

The International Investment Forum exhibition conducted by the National Chamber of Commerce of Sri Lanka at the BMICH will conclude today.

The three-day event is organised with the objective of finding international business partners for Sri Lankan exporters. Over 100 companies from Sri Lanka have put up stalls displaying a wide range of their products. Nearly 100 foreign investors from 12 countries including US, UK, Australia, Oman, Netherlands, Canada, South Africa, Norway, Pakistan and the UAE are attending this event.

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Copyright 2001 The Associated Newspapers of Ceylon Ltd.
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