Investors upbeat on Jaffna

Infrastructure development on fast pace:

Charumini DE SILVA in Jaffna

The Biz Pact Investment Forum - Jaffna, organized by the Business for Peace Alliance (BPA) was a welcome effort to the business community in Jaffna and business giants in Colombo to show potential sectors in the North with the dawn of peace.

Business for Peace Alliance (BPA) Chairman, Suresh de Mel said small and medium entrepreneurs throughout Sri Lanka who have been striving to foster peace and stability are taking advantage of the opportunity that has emerged to rebuild the country and bring prosperity to all parts of the country, which is rich in natural and cultural diversity.

It is the ideal time for investors to set up business even on a small- scale as it is pre-mature for huge investments. The Government has completed most of the infrastructure developments in the Eastern province and several projects have begun in the Northern province too.

Essential needs such as electricity, telecommunication, drinking water, sanitary facilities, transport, hospitals, roads, supermarkets, postal services and other essential facilities have already been established.

With the beginning of a new era with peace it is vital that the business community recognize the possibilities and re-build the country’s economy.

The key potential areas identified by the participants were fisheries, tourism, agriculture, dairy, salt base industries, construction, palmyra based industries, education, post harvest technology, sustainable energy, textile and boat building industries are just a few opportunities that need priority attention.

“If the local community was empowered to proactively participate in developing this land, they will become responsible stakeholders in society. This will in turn ensure a durable peace and prosperity to an area that has been deprived of it for decades, de Mel said.

Daily News Business interviewed several investors who are keen to invest in Jaffna and most of them said that since we are still getting on in the North it is important to encourage responsible joint venture partnership in the post-conflict context in the region.

They also said that the assistance of regional chambers and support from the SMEs to develop this land is vital. It is the people who are responsible from bottom to top in developing this area.

An investor said business enterprise is an important part of a nation as businesses are assessing the investment opportunities and options in the North and East. One way of capturing the market is to promote many CSR activities in the area,” he said.

Adopting the green concept by protecting the environment in all each projects is essential to have sustainable development.

The literacy rate in Jaffna is over 90 percent and the people are very hard working. Therefore, the investors should take the maximum use of the opportunity they got after decades and help to rebuild the country’s economy in a responsible manner,” he said.