The development of new investment zones based on an appropriate public-private partnership model has received Cabinet approval.
According to the government, the need to develop a joint mechanism between the public and private sectors to build an export-oriented economy has been emphasized in the budget 2022.
Thereby, the appropriate new investment zones to be developed have been identified as follows.
- New Investment Zones in the Northern, Eastern, Northwestern and Southern Provinces.
- New Investment Zones in Mankulam, Paranthan Chemicals Company Premises and Kankasanthure Cement Corporation Premises
- New Investment Zones in Iranawila and Trincomalee
- 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.
Accordingly, the Cabinet has approved the proposal presented by the President, in his capacity as the Minister of Investment Promotion, to develop the said investment zones based on an appropriate public-private partnership model. (NewsWire)