Sri Lanka fast tracks Raigampura Green Industrial Zone to tackle land shortage for industry
Daily FT: Industry and Entrepreneurship Development Deputy Minister Chathuranga Abeysinghe has announced that the Government is expediting the long-delayed Raigampura Green Industrial Zone in Milleniya in Kalutara District to address the pressing shortage of industrial land.
During an inspection visit, he emphasised the project’s eco-friendly approach and its potential to boost industrial capacity, generate employment, and meet growing demand from industrialists in the Western Province. With Cabinet approval secured for 200 acres, he said only about 87 acres will be developed.In the first phase, development activities are planned to be carried out on 24 acres of land with an investment of Rs. 3,837 million, and job opportunities for 1,180.
The Deputy Minister said so far, the Government has spent Rs. 908 million on this project and by 2026; at least 24 industries are scheduled to be established on this land.
“Increasing industrial and value-added production in Sri Lanka is a main objective of the current Government. However, the lack of adequate space for industrialisation is the biggest obstacle to this. Particularly, 173 industrialists from the Western Province have requested land from the Ministry, but currently, there is a minimal amount of industrial land in the Western Province,” he added.
Abeysinghe further said that as a solution to this problem, the Government is trying to accelerate previously stalled projects like the industrial city located in Millaniya.
“We hope to build this project with the cooperation of the local people, in a manner that does not harm the environment and dispels the doubts and concerns of the people,” he added.OSL take:
The shortage of lands for industries pointed out in the above news is indicative of the level of growth and expansion of Sri Lankan industries. The overall expansion of Sri Lanka’s economy, especially in the manufacturing sector, has opened a host of business/investment opportunities. Sri Lanka’s geographical positioning in the Indian Ocean, the strong trade ties with many countries, the business conducive environment and the incentives for businesses interested in doing business in the country have given a further boost to Sri Lankas as an emerging business destination in the region. Given the expanding economy and the increasing business potential, foreign businesses/investors could confidently explore the business/investment opportunities in Sri Lanka’s manufacturing sector. The growth and profits recorded by local businesses in the sector further indicate the expanding opportunities and possibilities to form local collaborations for further expansion.
| Article Code : | VBS/AT/20250725/Z_4 |