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New investment zones to be established

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The Cabinet of Ministers has approved the proposal presented by the President in his capacity as the Minister of Investment Promotion to develop investment zones based on an appropriate public-private partnership model.

The need to develop a joint mechanism between the public and private sectors to build an export-oriented economy has been emphasized in the 2022 budget.

Accordingly, the appropriateness of developing new investment zones has been identified as follows.

a. Establishment of new Investment Zones in Northern, Eastern, Northwestern and Southern Provinces.
b. Establishment of New Investment Zones in Mankulam, Paranthan Chemicals Company Premises and Kankasanthure Cement Corporation Premises
c. Establishment of new Investment Zones in Iranawila and Trincomalee
d. Expansion of Bingiriya and Hambantota Investment Zones

The Asian Development Bank has agreed to provide the necessary technical assistance for the establishment of a proposed economic zone.

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