Nipayum Sri Lanka launch tomorrow

NIPAYUM Sri Lanka the Government's 300 enterprises initiative, will be launched tomorrow at 4 p.m. at the BMICH by President Mahinda Rajapakse.

This initiative envisages in setting up factories and other services in the provinces as proposed in the Mahinda Chinthanaya and the Budget 2006. Enterprises with a minimum investment of Rs. 30 million and 200 direct employments qualify for incentives under this scheme.

The incentives include tax holidays, Vat exemptions on import of machinery with the BoI assisting investors in the provision of infrastructure and location of land. New companies, expansion of existing companies and companies relocating outside Colombo and Gampaha districts are eligible.

The first copy of quarterly magazine "Centrepoint Sri Lanka" promoting trade and investment into the country published by the Enterprise Development and Investment Promotion Ministry will be presented to the President by Enterprise Development and Investment Promotion Minister Rohitha Bogollagama during the ceremony.

Several Cabinet Ministers, Parliamentarians, Diplomats, Investors and business leaders will participate.