Sri Lanka to lease land for 38 investment projects
EconomyNext: Sri Lanka’s cabinet has approved leasing land from industrial parks to 38 investment projects, Minister Nalinda Jayatissa said.
“The total investment value to be made by the 38 investors is Rs. 2,548.22 million,” Jayatissa told reporters.
It is expected to generate about 1,559 direct employment opportunities.
The land is to be provided from industrial parks on a lease basis for a maximum period of 35 years, he said.
42 project proposals were recommended by the ‘Regional Industrial Service Committee’, and the Ministry of Industry and Entrepreneurship Development’s Project Evaluation Committee approved the allocation of land for 38 projects.
Land has been allocated in Ampara, Trincomalee, Batticaloa, Kalutara, Minuwangoda, Matugama, Millaniya, Ulapaney, Ratnapura Nalanda, Karandeniya, Bata Atha, Mannar, Galigamuwa, Embilipitiya, Buththala, Dankotuwa, Puttalam, and Aluthapola.
OSL take:
Sri Lanka is on a steady growth path with the ongoing economic expansion as the country targets on becoming a hub in the South Asian region. Supported by the country’s strategic positioning in the Indian Ocean, the many trade agreements as well as trade concessions enjoyed with many foreign countries and the improving business conducive environment in the country, Sri Lanka has been recognized by foreign businesses/investors as an emerging business destination. The increasing interest shown by foreign businesses/investors in Sri Lanka, especially given the expanding business/investment opportunities covering all key economic sectors in the country further indicates the increasing business potential in Sri Lanka. It is in such a backdrop that the Sri Lankan government has moved to release lands for 38 investment projects. While confirming the expanding economic activities as well as the business/investment opportunities in the country, it also shows Sri Lanka’s focus on boosting foreign investments to the country. All these positive developments also show that Sri Lanka presents the ideal destination for foreign businesses/investors to set up bases in the region to engage with other countries in South Asia using the preferential treatment enjoyed by the country with those countries.
| Article Code : | VBS/AT/20250915/Z_1 |