Govt to set up two new FTZs in N-E
Two Sri Lankan investors indicate willingness to
start cement and fertilizer factories:
Lakshmi DE SILVA
The Government will establish two new Free Trade Zones in the North
and East - one will be in the Kilinochchi District and the other in the
Trincomalee District, Enterprise Development, Investment Promotion and
Mass Media and Information Minister Anura Priyadarshana Yapa told the
Daily News yesterday.
Tax holidays for 15 years and other incentives would be offered to
the investors who start industries in the North and East while the local
residents would gain employment opportunities from these FTZs. Two Sri
Lankan investors have already indicated their willingness to start a
cement factory and a fertilizer factory, he said.
Though the FTZs were started as far back as 1978, the total foreign
direct investments made up to 2005 was only 2,700 million US Dollars.
It was on an average around US$ 100 million per year but from 2005 to
2008 direct foreign investments had reached the 2,800 million dollar
mark which is a great achievement, he said "We are a government that
encourages the private sector and the BOI had initiated steps to approve
new enterprises and now a total of 500,000 persons are directly employed
in the FTZs and a large number of persons have also received indirect
employment and we are heading for a brighter economic future," he said. |