Sri Lankan government plans next stage of Achchuveli Industrial Zone in the North at a cost of Rs. 100 million
The government of Sri Lanka is reportedly planning the next development stage of the Achchuveli Industrial Zone in the Northern Province at a cost of Rs. 100 million.
The Industry and Commerce Ministry in Sri Lanka has stated that as part of its vast development efforts in the North, Sri Lanka has stepped up industry expansion in the Province, boosting hopes for new employment and economic resurgence of the region.
“India has greatly contributed to the development of the Northern Province,” Minister of Industry and Commerce in Sri Lanka Rishad Bathiudeen has said.
He has made this observation while addressing the launch event of the fifth COMPLAST and COMEXPO (international exhibition on plastics and manufacturing) at the BMICH recently.
Joining the Minister at the launch were Deputy Commercial Head of the High Commission of India in Colombo, Neha Singh, Plastics and Rubber Institute of Sri Lanka (PRISL) Vice President Kaushal Rajapaksa, Industrial Development Board (IDB) Chairman Mahinda Jinasena, SmartExpos and Fairs India CEO and President B. Swaminathan, and many leading industry representatives from Sri Lanka.
“The Ministry of Industry and Commerce is a proud co-organiser of this event where 50 exhibitors from India, China, Taiwan, USA, Germany, Malaysia and Pakistan are joining. Special pavilions for India and China are in place. A mini-manufacturing expo, called COMEXPO by IDB under my Ministry, showcases ‘Made in Sri Lanka’ manufacturing strength with 55 local industry firms” Minister Bathiudeen has observed.
He has further noted, “This industry expo series focuses on making Sri Lankan manufacturing more competitive by way of integrating and building stronger linkages.”
“The result is the creation of a B2B platform for delivering the best experience. Today, I am pleased to invite industrialists here to benefit from a range of services offered by my Ministry. In fact, this event comes in a background of various new industry projects being launched by us to develop our manufacturing sector. To industrialize the Northern Province, the next stage in the development of Achchuveli Industrial Zone is planned at a cost of Rs. 100 million. My officials are working on the next stage of this project at present. This large-scale industry zone is a pioneering project for the development of the Northern Province. I invite all industrial participants here today to start manufacturing at the Achchuveli Industrial Zone and reap maximum benefits. We thank the Government and people of India for the grant assistance of Rs. 200 million to commence this zone in 2014. India has also greatly contributed for the development of many other aspects in the Northern Province. I wish to express my appreciation to people of India on behalf of people of north,” the Minister has said.
OSL take:
The Sri Lankan government has laid much emphasis on the development of the Northern and Eastern Provinces of the country. The planning of the next phase of the Achchuveli industrial zone in the North is indicative of the importance laid on the industrial development in the region. Looking at the performance of the other industrial zones that have been set up island wide and the various incentive schemes offered to the foreign companies that have invested and set up operations in these zones, foreign businesses/investors could explore the opportunity of setting up operations in the proposed Northern industrial zone.
| Article Code : | VBS/AT/15082018/Z_1 |