Sri Lanka has secured an export income of USD 9 billion in the first six months of this year, State Minister for Investment Promotion, Dilum Amunugama, announced.
State Minister Amunugama highlighted that investment agreements totalling approximately USD 800 million have been signed during the same period.
He disclosed this information at a press briefing held at the Presidential Media Centre on Wednesday (Aug 21).
“The Board of Investment of Sri Lanka currently facilitates 15 investment zones, with 1,575 companies operating within them, providing employment to over 500,000 people.
“Under the government’s new investment program, seven additional investment zones are planned for areas including Mankulam, Paranthan, Kankasanthurai, Trincomalee, Iranawila, Hambantota, and Bingiriya. Although the target for this year was to secure USD 1 billion in investment deals, USD 800 million has already been achieved in the first six months through signed agreements,” he said.
State Minister Amunugama also revealed that negotiations for 35 investment projects have been finalized, and the agreements have been signed.
“There are plans to develop the Kankasanthurai Investment Zone as a joint Canadian-Sri Lankan initiative. The next three months have been allocated to submit amendments to the Economic Transformation Law.
“Twenty-seven “Export Promotion” projects have already been launched to boost Sri Lanka’s export income. Plans include implementing the “One Village One Product” initiative across the country, covering 14,000 Grama Niladhari divisions. Additionally, an “e-commerce” platform is being developed to further increase export revenues. In the first six months of this year, export income has reached USD 9 billion,” he said.
The State Minister for Investment Promotion also noted that 46 out of 118 land plots had been allocated to a Chinese contracting company regarding the port city, with six of these plots later returned to Sri Lankan companies. “So far, 21 organizations have been approved to establish businesses in the port city, with efforts underway to attract more investments,” the State Minister said.
He added that plans are also in place to develop the Pelwatte Sugar Factory, with all these initiatives expected to significantly strengthen the economy of Sri Lanka. (Newswire)