Following the cabinet nod for the establishment of the five new investment zones in Northern, Eastern, Northwestern and Southern Provinces, the Board of Investment (BOI) of Sri Lanka awaits to conduct a feasibility study on their economic prospects once the Government provides the lands, The Daily Morning Business learnt.  

Speaking to The Daily Morning Business, BOI Director General Renuka M. Weerakoon said: “Though the identification of the land parcels and the transfers are being done to the BOI, the lands are yet to be identified by the Government. ”

She further said that the Government anticipates a public private partnership (PPP).

She added thus, the Government does not spend in abundance. Therefore, it will be open for the foreign investors to come and pitch in as a state and private sector development. However, matters in this regard are still being formulated.

According to the Cabinet Decision paper, the 2024 National Budget stressed the need of the hour in building an export-oriented economy in the post- economic crisis Sri Lanka.

The investment zones in Bingiriya in the Northwestern Province and Hambantota in the Southern Province will also be further developed, aligning to the new investment zones.