Sri Lanka to allocate over 2,100 acres of lands for private sector for dairy farms
Sri Lanka’s Cabinet of Ministers has approved the proposal by the country’s Minister of Agriculture to provide lands belonging to the National Livestock Board (NLB) that are currently unutilized for development as well as other state owned lands that are unutilized to be allocated for the setting up of modern dairy farms on a 30 year lease basis to the recommended investors.
Accordingly 2,171 acres of land has been allocated for the proposed project.
Sri Lanka’s Presidential Task Force on Economic Revival and Poverty Eradication has submitted proposals to the country’s Board of Investment (BOI) to encourage local and foreign investors to improve local milk production.
The BOI has invited proposals from interested investors and the proposals have been directed to the technical committee of the Board.
About 40% of Sri Lanka’s liquid milk requirement is produced locally while it costs about Rs. 50 billion annually to import milk to meet the country’s requirement.
OSL take:
Sri Lanka’s dairy industry is in the process of developing the sector to ensure self sufficiency in the production of fresh milk and related products. The government of Sri Lanka has introduced many concessions and incentives to businesses/investors exploring opportunities in the country’s dairy industry. Given the growing demand for food items due to the increasing economic activities in the country, investments in Sri Lanka’s dairy industry provides a lucrative business opportunity. Foreign businesses/investors could explore opportunities in Sri Lanka’s dairy industry.
| Article Code : | VBS/AT/10092021/Z_7 |