Sri Lanka to set up four special economic zones covering several districts - Opportunity Sri Lanka
Sri Lanka to set up four special economic zones covering several districts

Sri Lanka to set up four special economic zones covering several districts

The government of Sri Lanka is to set up a Mahaweli Special Economic Zone covering four Districts in the country – Kurunegala, Puttalam, Anuradhapura and Matale. The move is aimed at enhancing rural development.
Sri Lanka’s Cabinet of Ministers has approved a proposal submitted by the country’s Minister of Irrigation to establish the Mahaweli Special Economic Zone.
According to the government, the Mahaweli Water Conservation Investment Programme has been implemented as a pioneer project targeting the productive consumption of excess water in the Mahaweli River basin for agri-economic process of the rural community living in the sub river basins in the North Western, North Central and Northern Provinces while also fulfilling the requirement of drinking and industrial water requirement of that rural community.
Accordingly, plans are afoot to construct two artificial channel systems – North Western Great Channel which is 88.9 kilometres long and North Central Great Channel which is 95.7 kilometres long.
These two canals are expected to nourish 1,500 rural tanks/reservoirs with seven new storage tanks during the next four years.
Additionally construction activities of the new Deduru Oya Reservoir across Deduru Oya and the related constructions have been completed.
Underdeveloped land areas have also been recognised for development through an accelerated and combined rural development process.

OSL take:

Sri Lanka’s ongoing economic expansion, even amidst the Covid 19 pandemic, has opened up many business/investment opportunities in the country. The government of Sri Lanka is also engaged in an aggressive development programme aimed at promoting the country as an emerging business destination in the South Asian region. Authorities in a bid to develop the country’s agriculture sector to meet the growing demand has opened up new business opportunities in Sri Lanka’s agriculture industry. Given the evolving economic conditions in the country, Sri Lanka presents many business/investment opportunities to foreign businesses/investors.

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Article Code : VBS/AT/10092021/Z_6

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