Sri Lanka to proceed with final phase of Myliddy Fishery Harbour development
Daily FT: The Cabinet of Ministers on Monday approved construction planned in the land under Stage III of the Myliddy Fishery Harbour development and to extend the project timeline till 2027.
The implementation of Stage III will mark the final phase of infrastructure expansion.
With Stages I and II already completed, Stage III will focus on providing critical facilities to support both local and visiting fishing communities.
The development will include essential services such as access to clean water, electricity and fuel, alongside infrastructure for net preparation, auction halls and radio communication systems.
The expansion of facilities are expected to serve not only the Northern Province’s fishermen, but also accommodate fishing vessels arriving from the Eastern and Southern provinces, enhancing inter-regional connectivity and economic activity in the sector.
OSL take:
Given Sri Lanka’s positioning in the Indian Ocean and the fact that it is an island have all served to expand the country’s fisheries industry. The ongoing expansion in the local fisheries industry is manifold with fish exports also playing a crucial role as one of Sri Lanka’s key export commodities. The many trade agreements and trade concessions enjoyed by Sri Lanka have also helped boost the country’s fisheries industry and related sectors. It is in such a backdrop that the Sri Lankan government has decided to further develop and uplift the local industry. These development programmes have in-turn created many business/investment opportunities. Therefore, apart from the direct business/investment opportunities in Sri Lanka’s fisheries industry and related sectors, there are also a host of opportunities in the development of infrastructure and supplementary infrastructure required by the industry to meet the increasing local and international demand. With Sri Lanka on a steady growth path along with key economic sectors including the fisheries industry, foreign businesses/investors could confidently explore the expanding business/investment opportunities in the industry and related sectors that guarantee quick returns on investment (RoIs).
| Article Code : | VBS/AT/20250612/Z_8 |