Colombo, Feb 14-  State Minister for Investment Promotion, Dilum Amunugama, has spearheaded efforts to welcome high-net-worth Japanese investors to the Bingiriya Investment Zone, signaling a new era of economic cooperation between Sri Lanka and Japan.

Following President's successful visit to Japan, where bilateral investment opportunities were explored, Minister Amunugama has directed officials of the Sri Lanka Board of Investment to expedite the development of the second and third phases of the Bingiriya Investment Zone.

This move aims to accommodate the growing interest of Japanese investors eager to contribute to Sri Lanka's economic growth story.

During a recent progress review meeting held at the Bingiriya Export Processing Zone, Minister Amunugama emphasized the need to provide seamless facilities and support to Japanese investors upon their arrival in Sri Lanka. The meeting saw the participation of key stakeholders, including Minister of Investment Promotion Secretary M M Naimudeen, Director General of Sri Lanka Board of Investment Renuka Weerakoon, and representatives from various government departments responsible for infrastructure development.

Currently, five projects are underway within the Bingiriya Investment Zone, with a total investment value of approximately fifty million US dollars. The zone spans across 160 acres in the first phase, 282 acres in the second phase, and 650 acres in the third phase, offering ample opportunities for investment and development.

Minister Amunugama emphasized that the expansion of the Bingiriya Investment Zone would not only generate direct employment opportunities for local youth but also create new avenues for service-oriented businesses, fostering economic growth and development in the region.

Besides, he highlighted the importance of infrastructure enhancements, including road development, to support the influx of investment and ensure the sustainability of the investment zone.