Sri Lankan government to launch first phase of new export processing zone in Kurunegala next month
The Government of Sri Lanka is to launch the first phase of developing the Bingiriya Export Processing Zone (EPZ) next month under the patronage of Prime Minister Ranil Wickremesinghe.
“The work of the first phase of the Bingiriya, Kurunegala District EPZ will be commenced on 28 February by Prime Minister Wickremesinghe,” Sri Lanka’s Deputy Development Strategies and International Trade Minister Nalin Bandara Jayamaha has been quoted as saying at the inauguration of the 11th Footwear and Leather Fair at the BMICH in Colombo yesterday.
He has noted that the government was steaming ahead in developing new export processing zones in different parts of the country, while also planning introducing investor-friendly policies to attract fresh foreign direct investments (FDIs) and bolster international trade.
In addition to the Bingiriya EPZ, the Deputy Minister has said the government was progressing with two zones in Milleniya and Hambantota in the near future.
He as added that the Ministry will soon call for Expressions of Interest (EoIs) from both local and foreign investors to capitalise on these new zones.
OSL take:
The development of another Export Processing Zone in Sri Lanka is indicative of the expansion of business opportunities in the country as well as the development of the exports sector. The ongoing projects at the Milleniya and Hambantota zones also offer many business/investment opportunities for foreign businesses/investors to set up operations in Sri Lanka, especially in the exports sector. Sri Lanka also has many free trade agreements as well as trade concessions for local exports to the US and EU.
| Article Code : | VBS/AT/28012019/Z_4 |