Sri Lanka to set up dedicated zone in the country’s south to promote value added agriculture exports
The Sri Lankan government is reportedly planning on further promoting value-added agriculture exports by setting up a dedicated zone in the country’s Southern Province. According to local media reports, early investors have also been identified for the project.
Cabinet Co-Spokesman, Plantations Minister Ramesh Pathirana has told the media that 14 agri-entrepreneurs have already expressed interest to set up ventures in the proposed zone and the Cabinet of Ministers had approved a proposal to allocate plots of land accordingly.
The proposed Export Agro Value Chain Development Industrial Zone is to be set up on 64-acre land owned by the Land Reforms Commission in the Mahipenna area in Elpitiya.
The 14 agri-entrepreneurs were identified through the Business Feasibility Assessment conducted under the ongoing Agriculture Sector Innovation Project, local media reports have stated.
Pathirana has further stated that the Cabinet had given approval to proceed with the first phase of the initiative and to appoint a committee headed by the Secretary to the relevant State Ministry to select agri-entrepreneurs under the second phase.
“The zone will promote value addition to export agri-products such as tea, spices and pepper and earn higher foreign exchange earnings than shipping them in bulk form,” Pathirana has added.
OSL take:
Sri Lanka’s agriculture sector is fast becoming a hotspot for business/investment opportunities. The agriculture industry is focussed on developing the sector through conversion to organic fertilizer and improving productivity through the use of technology and machinisation. Sri Lanka also has a wide range of agriculture exports that are being further expanded through value additions. The many agreements as well as trade concessions enjoyed by the country have helped agriculture exports. Sri Lankan government’s move to further improve value additions would in turn expand the market for local agriculture exports. Foreign businesses/investors could explore business/investment opportunities in Sri Lanka’s agriculture sector.
| Article Code : | VBS/AT/20210611/Z_3 |