Sri Lankan President directs officials to complete Bingiriya Industrial Zone by year’s end
The Morning: President Ranil Wickremesinghe directed relevant officials to ensure the completion of infrastructure development in the Bingiriya Industrial Zone by the end of this year.
These instructions were given during a discussion held at the Presidential Secretariat on 8 May to review the progress of infrastructure and other constructions in the area.
The construction of the Bingiriya Industrial Zone is taking place in three phases, with a significant portion of the infrastructure for the first phase being already completed.
Accordingly, President Wickremesinghe advised the officials to ensure the completion of the on-going work by year’s end and expressed his intention to visit the site in June to inspect the progress first-hand.
Present at the meeting were President’s Secretary Saman Ekanayake, President’s Senior Advisor on Economic Affairs Dr. R. H. S. Samaratunga, Secretary of the Ministry of Investment Promotion M. M. Naimuddin, Secretary of the Ministry of Power and Energy Dr. Sulakshana Jayawardena, Secretary of the Ministry of Transport and Highways Ranjith Rubasinghe, Chairperson of the Board of Investment Dinesh Weerakkodi and officials of the line ministries.
OSL take:
Sri Lanka is currently focused on expanding the country’s economy and attracting foreign investments to the country. The Sri Lankan government introduced many incentive schemes to foreign businesses/investors looking at doing business in the country while also setting up dedicated industrial zones with many facilities to expand the country’s foreign direct investments as well as expand the country’s manufacturing and export sectors. Sri Lanka’s geographical positioning in the Indian Ocean and the strong trade ties enjoyed with other countries as well as the country’s potential of becoming a regional hub have all added to Sri Lanka’s attraction as a business/investment destination in South Asia. Sri Lanka’s ongoing economic activities have expanded the business/investment opportunities in the country along with its business potential, thereby presenting a host of opportunities for foreign businesses/investors. All these developments also make Sri Lanka the ideal destination for foreign businesses to set up base in to engage with other countries in the region.