Biyagama Free Trade Zone will serve as blueprint for Sri Lanka’s industrialisation: President

The remarkable success of Biyagama Free Trade Zone will serve as a blueprint for Sri Lanka’s planned industrialisation process in the next 15-20 years, President Ranil Wickremesinghe said.

Speaking at an event in Malwanna this week, Wickremesinghe emphasised that the once-underdeveloped Biyagama area’s transformation was largely attributed to the establishment of the trade zone. 

He envisions replicating this success story on a national scale to make Sri Lanka an attractive investment destination, opening up fresh opportunities for
global investors.

Wickremesinghe identified several locations, including Bingiriya, Iranavila, Hambantota, Kandy, Trincomalee, and the Northern Province, as potential sites for the establishment of industrial zones.

He assured the government’s commitment to expedite this process, with the goal of transforming these areas into thriving commercial cities.

Addressing concerns about the suitability of industrial zones in Sri Lanka, Wickremesinghe cited the Biyagama investment zone’s success, ranking it as the best in South Asia. 
He emphasised that replicating such industrialisation models in every province would alleviate economic pressures and drive prosperity across the country.

Additionally, Wickremesinghe highlighted the government’s dual focus on strengthening the country’s economy through the creation of new investment zones and generating employment opportunities for the youth.