Export Processing Zones in Northern Province Begin Operations, Boosting Economic Development and Investment

COLOMBO (News 1st): Out of the three export processing zones planned to be established in the Northern Province, two zones have started operations. The operations of Jaffna Kankesanturai and Kilinochchi Paranthan Export Processing Zones have thus been initiated. Both these zones were officially named and inaugurated.

The operations of the Export Processing Zone have been inaugurated by the Honorable Governor of Northern Province P.S.M. Charles and Minister of Investment Promotion Dilum Amunugama. The Pepper has been submitted to the cabinet by His Excellency the President with a view to economic development in the Northern Province and has been approved.

The Canadian Sri Lanka Business Convention has offered to invest in an export processing zone that could be established in Kangesanthurai, Jaffna. One hundred million US dollars (100 MN USD) is being invested in the initial land maintenance and development activities for the zone. In addition, the Canadian Sri Lankan business industry has decided to carry out massive projects with an investment of one-tenth five billion US dollars (1.5 billion USD). Major projects like health development, old age home development, industry, technology, small business sector development, tax-exempted shop block, tourism development etc. will be carried out under this scheme. It will be the first full-fledged public-private investment project to be undertaken in Sri Lanka. The Sri Lanka Investment Board has also joined hands with the Canadian Sri Lanka Business Conversation in this project.

All the activities of the Export Processing Zone which has been started in Kilinochchi Parantan are planned to be implemented by the Sri Lanka Board of Investment with the local export and manufacturing sector. An investment of USD 1 billion is expected in this sector as well.

According to the Honorable Governor of the Northern Province P.S.M. Charles, the problem of unemployment in the Northern Province will be solved through export processing zones and this will be a driving force for economic development. The Hon'ble Governor informed that necessary steps are being taken to meet the demands made by the unemployed graduates, youth, and women during the visit of His Excellency the President to the North. The Hon'ble Governor also pointed out that although permission has been given to fill the vacancies in the Northern Province with graduates and diploma holders, the recruitment process has been delayed due to the provisions of the Election Act.