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Cabinet greenlights investment zones in North, East, South
Colombo, Jan 09 (Daily Mirror) - The Cabinet granted its approval for the establishment of new investment zones, backed by technical assistance from the Asian Development Bank (ADB).
The decision comes in response to the government's commitment outlined in the 2022 budget, emphasizing the necessity of building a robust export-oriented economy through collaborative efforts between the public and private sectors. Recognizing the imperative to create a joint mechanism, the government has identified the suitability of establishing new investment zones.
A comprehensive proposal was submitted to the Cabinet seeking approval for the establishment of investment zones in key regions, including the Northern, Eastern, Northwestern and Southern Provinces.
The proposed locations include Mankulam, the Paranthan Chemicals Company premises, Kankesanturai Cement Corporation premises, Iranawila and Trincomalee areas. Besides, plans involve the expansion of the Bingiriya and Hambantota Investment Zones.
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