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EPZs created 16,500 jobs last year:

BOI upbeat on US $ 5000m investment target

BOI expects to target US $ 5 billion investments in the future. It is expected that this will generate 80,000 employment opportunities, BOI Chairman Dhammika Perera said.

BOI Chairman
Dhammika Perera

Major telecommunication service providers have invested Rs 194,687 million in 18 projects to improve and upgrade networks with new technology in BOI Export Processing Zones (EPZs). It shows the rapid growth in mobile phone, land phone and web-based activities.

Twelve fully operational zones with all infrastructure facilities are administered by the BOI. Over 1,726 projects are in commercial operation. Among the projects in commercial operation, 711 companies contribute to the construction services sector, 113 contribute to the agriculture and animal husbandry sector and 902 companies to the manufacturing sector, Chairman Perera said.

The total cumulative Foreign Direct Investment (FDI) received since 1978 is US $ 5,600 million. Over 50 percent of the total FDI received was between 2006 and 2009.

“Total projects in the Export Processing Zones (EPZs) offer 475,000 employment opportunities in different sectors. 16,500 new employment opportunities have been created in 2009,” he said.

Out of the country’s total industrial exports, BOI companies contribute 86 percent. The BOI has also opened new areas such as the knowledge-based industries. It secured Rs 7.5 billion worth of export earnings from the IT and BPO industries.

Power generation projects in BOI zones contribute to the total national grid 2200 MW with over 1000MW that is 40 percent of national installed capacity. Seventy five power generation projects are in operation accounting for Rs 73,590 million investments in the BOI zones.

It is expected to increase the number of hotel rooms to 50,000 to cater to the anticipated 2.5 million visitors in the future.

“The BOI has understood that education will play a vital role in time to come. The BOI expects to facilitate the setting up of 25 higher education institutes for 30,000 students,” Perera said.

 

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