Sri Lanka’s BOI visits North to fast track investments
The Morning: Board of Investment (BOI) Chairperson Duminda Hulangamuwa, and Director General (DG) Sulakshana Jayawardena visited the Northern Province to examine the potential to drive investment into the Northern Province.
The visit brought together Government leaders, regional administrators and investors with a shared purpose: to fast-track two new Export Processing Zones at Paranthan and Kankesanthurai (KKS), make it easier to invest and do business, and open the door to promising new export sectors that can create jobs across the region.
At the proposed Paranthan Export Processing Zone, the Chairman and DG met the District Secretary, Kilinochchi; the Divisional Secretary, Paranthan; the Coordinating Secretary to Minister Bimal Rathnayaka; and officials from the Road Development Authority (RDA), the Provincial Road Development Authority (PRDA), the Railway Department and the Electricity Distribution Ltd. The discussions produced firm commitments: the BOI will open land reservations to investors by the end of November 2026 and begin internal infrastructure development at the site by early January 2027.
Following the above Visit in BOI will host a familiarisation and investment promotion visit in November 2026 for leading investors and investor associations, offering them a first-hand view of what the Northern Province has to offer, including the new BOI industrial zones at Paranthan and Kankasanthurai.
At a meeting held at the Tellippalai Divisional Secretariat, attended by the District Secretary, Jaffna; the Divisional Secretary, Tellippalai; the Chairperson of the Cement Corporation; Coordinating Secretary to Minister Bimal Rathnayaka; officials from the RDA, PRDA, Railway Department and Electricity Distribution Ltd; and the Officer-in-Charge of the Sri Lanka Police – KKS, all parties agreed that internal infrastructure development at KKS will also commence by early January 2027, placing both zones on a parallel path to readiness.
The BOI also met existing and prospective investors, and the Investors shared valuable, first-hand insights on where the process can be made simpler and faster, pointing to the need for clearer and more consistent procedures on land valuation and allocation, quicker approvals and clearances from line agencies, and smoother coordination across Government institutions.
Chairperson Duminda Hulangamuwa responded with a practical solution: A Single-Point Coordination Mechanism that will follow investor issues through to resolution. Working closely with the relevant Government institutions and drawing on the support of the appropriate political and administrative leadership where needed, the mechanism will expedite outstanding approvals and clear implementation bottlenecks, so that investors can move from approval to operation with confidence.
The Chairperson and DG met and briefed the Governor of the Northern Province, Nagalingam Vethanayahan, on the BOI’s development initiatives in the region, including the KKS and Paranthan industrial zones, their implementation schedules and target completion timelines. The Chairperson sought the Governor’s support to establish a Single-Point Investor Facilitation Centre in the Northern Province, giving investors one trusted point of contact for the approvals and services they need from regional and national Government institutions.
The Chairperson also proposed a Regional Manpower Information Database/Data Centre to capture the availability, qualifications and skills of the Northern Province’s workforce. A skilled, ready workforce is often the deciding factor for investors, even where land and infrastructure are already in place, and this initiative will allow the region to showcase its people as clearly as its physical assets.
At Ariyalai, Jaffna, the Chairperson and DG toured sea cucumber and seaweed cultivation projects and met stakeholders to discuss how the industry can scale up and overcome the challenges it faces today. The visit confirmed strong potential to expand and commercialise these activities as export-oriented enterprises capable of generating employment and income across the Northern Province.
With industrial zones on a firm timeline, investor facilitation being strengthened, closer coordination across Government, a workforce information base in development and new export sectors coming into view, the Northern Province could emerge as a promising investment destination. The BOI remains firmly committed to working alongside investors and local stakeholders to turn this potential into sustainable employment, rising incomes and lasting prosperity for the people of the region.
OSL take:
Sri Lanka is seeking to attract foreign investment beyond its traditional commercial centres, with new industrial zones in the Northern Province offering business/investment opportunities for international businesses to participate in the country’s broader development programme. The BOI is advancing plans for Export Processing Zones at Paranthan and Kankesanthurai (KKS) to promote regional industrialisation, exports and employment. The BOI plans to open land reservations at Paranthan by the end of November 2026, with internal infrastructure development at both sites scheduled to begin in early January 2027. An investment promotion visit for leading investors and business associations is also planned for November. The proposed zones could attract foreign investment into export manufacturing, industrial processing, warehousing, logistics, construction materials and supporting services. They also offer potential for technology transfer, local supplier partnerships and skills development. Business/investment opportunities extend across Sri Lanka. Renewable energy, battery storage, maritime industries, port-related services, tourism, agro-processing, healthcare and vocational education offer scope for international businesses seeking new markets and regional partnerships. Modernising agricultural supply chains, developing cold-storage facilities and introducing advanced food-processing technologies could strengthen export competitiveness, while investment in renewable energy and energy storage could support industrial expansion. Sri Lanka’s strategic location along major Indian Ocean shipping routes established trade links and skilled workforce provide a foundation for investment. However, realising this potential will depend on reliable infrastructure, predictable policies, competitive operating costs and efficient regulatory approvals. If supported by timely infrastructure development and a business-friendly investment climate, the country’s regional development drive could create commercially attractive opportunities while broadening exports, generating employment and distributing economic growth more evenly across the island.
| Article Code : | VBS/AT/20261013Z_1 |