Foreign investors to East here in May

Walter LIYANARACHCHI

The Board of Investment (BOI) has invited prospective investors to the Eastern Province from 25 countries to participate for a preliminary awareness discussion in Colombo from May 5 to 7.

As a result of the satisfactory response, 75 companies have opted to participate in this discussion, BOI, Promotion and Mega Projects Director Vidharshan Fernando told the Daily News.

The BoI has identified 400 acres in Pasikuda and Kalladi coastal belts to improve the leisure industry and 1,600 acres in back to back area around the Trincomalee Port. BoI intends to invite the prospective investors to visit this identified areas where business opportunities are in abundance in the Eastern Province. The BoI will detail them, at this visit where untapped resources are lying and to provide them with a detailed study on the provision of infrastructure facilities, other benefits and incentives, Fernando said. Investors interested to commence agricultural projects will have to invest a minimum of Rs. 15 million and leisure industry Rs. 30 million. The Government's intention is to generate more job opportunities in the Eastern Province, Fernando said.