Trincomalee special economic zone ground breaking ceremony

TRINCOMALEE: The ground breaking ceremony of the proposed Trincomalee Special Economic Zone will be held at 10 a.m. on January 7, 2007 under the patronage of Rohitha Bogollagama, Minister of Enterprise Development and Investment Promotion.

The site at Kappalthurai is considered to be the most attractive location to establish a special economic zone in Sri Lanka with the Trincomalee harbour recognised internationally as one of the best ports in the world.

This is one of the 12 Special Economic Zones proposed in the 2006 budget. Cabinet approval was granted on 16th February 2006 to gazette approximately an area of 675 kilometers for this project.

President Mahinda Rajapaksa has identified Trincomalee as the forefront of the country's future economic development and under his leadership Trincomalee will be transfered into a vibrant industrial base and usher in a new economic dimension to Sri Lanka.

Substantial foreign investment is expected from the Special Economic Zone due to Trincomalee's geographical location will attract a large number of investors.

The main objective of the Trincomalee Special Economic Zone is to create an entrepreneurial spirit by encouraging long term investment and to create a new industrial culture by promoting public and private partnerships.

It will also be a leading provider of port related products and services to international markets by maximizing the potentials of the Trincomalee Port and its environs as well as to make the most convenient location in the Far East as a destination of investment.