To develop an IT & Knowledge Park within the Northern Province

To develop an IT & Knowledge Park within the Northern Province

Investment opportunity: development of Multifunctional Information Technology Park/Educational Park.

Selection criteria of investor: previous experience and the submission of complete project proposal.

Location of the proposed project: 15 acre land identified for the project in Achchuveli within Northern Province.

Government contribution: land offered for project on long term lease basis.

• 50 year lease offered for the identified land.
• Per acre lease premium is USD 6000.
• Annual ground rent is USD 1500 per acre.

Value of investment: USD 5 million for the 1st phase.

Method of investment: foreign direct investment

Commencement date: investor could start on project ASAP by submitting proposal and obtaining BOI approval.

The potential of the island’s IT/BPO sector:
• Sri Lanka has been ranked 2nd in South Asia under the Network Readiness Index in the Global Information Technology Report 2010-2011 published by the World Economic Forum.
• IT industry wages in the island range from USD 150 to USD 2500 monthly which is lower than other offshoring nations.

OSL Take:

The unity government is encouraging FDI’s to the island to develop the IT/BPO and related segments to increase the national revenue potential and also to increase the jobs within the sector

The younger generation in Sri Lanka eager to take up the sector opportunities, will now have brighter future prospects of employment and also the opening to interact with the rest of the developed world through this IT & Knowledge Park.

OSL as the leading funding matchmaker to government proposed human resource development projects is at your service 24X7 to help with the way forward.

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