Proposed five techno parks to be listed on CSE under new entity

The Cabinet nod has been granted to form a new entity named ‘Technology Park Development Company’ and to bring the proposed five technology parks under this entity, with plans for a possible listing on the Colombo Stock Exchange (CSE) in the future.

President Gotabaya Rajapaksa on Monday in his capacity as the Minister of Technology sought the approval for the proposal from the Cabinet of Ministers. The five technology parks proposed in Budget 2021, were to be setup in the Galle, Kurunegala, Anuradhapura, Kandy and Batticaloa districts with an allocation of Rs.10 billion.

The Government Information Department noted that the new entity would be listed on the CSE in order to allow private investors to participate in the project.

The preliminary work has already been completed for four parks, which would be located in Galle, Kurunegala, Kandy and Nuwara-Eliya. In June this year, the government launched the first techno-park in Galle.

At the initial stage, the operations of these techno parks are designed and planned to commence in a 25-acre land, which would be later extended to 100 acres.

The main aim of these techno parks is to create a techno-entrepreneurs-led economy, which would increase exports and other sources of foreign exchange earnings from the technology field while expanding knowledge and professional services to the national economy within the next two years.