BOI plans to carry out future industrial and residential zone developments on PPP basis

The Board of Investment (BOI) plans to conduct future industrial and residential zonal developments on a public-private partnership (PPP) basis, moving away from capital expenditures on new zones.
“The BOI is mandated to do new zones. We will offer lands to investors, where they will have to come and do zonal developments on PPP; the BOI or government won’t spend on capital infrastructure,” BOI Director General Renuka Weerakone told reporters in Colombo, recently.
She noted that the new PPP model to develop new zones would be similar to MAS Fabric Park located in Thulhiriya, which is the country’s first privately-owned apparel free trade zone.
“This is a good model, which we want to replicate,” she added.

Similarly, Investment Promotion State Minister Dilum Amunugama revealed the BOI’s plans to offer residential zone development to investors as well. 
Currently, the BOI is in discussions with an investor based in Saudi Arabia to develop residential zones in Kandy and Nuwara Eliya.
He noted that the foreign investors have already been communicated of the initiative through Sri Lankan missions abroad as well as via the BOI country representatives.

The government has announced plans to set up four new specialised investment zones in the North and East, including Mankulam, Kankesanthurai, Paranthan and Kappalthurai in Trincomalee.