East woos investors

Concurrently with the Eastern Province Development Program, the Industrial Development Ministry has launched a special program to induce investors to invest in industrial ventures in the Province.

Ministry Secretary R.V.D. Piyatillake said under this program the Government will offer a five year tax relief for investors investing more than Rs. 50 million in industrial ventures which would offer employment for more than 50 persons each. Discussions were on with the Finance Ministry to offer added relief to investors taking part in the Eastern Province Development effort. Already, several investors had expressed interest in setting up several enterprises in the Province.

These include factories for export of agro based products, manufacture of boats, nets and other fishing gear, noodles and goods based on plant essence.