Monaragala : Your next investment location

Srimal Fernando

INVESTMENT: Monaragala District is located 254 km East of Colombo and consists of 5,639sq km or 8.6 percent area of the country. The District has enjoyed an economic growth of 2.5 per cent sustained by vibrant private sector activity. It has been a strategic location in the Uva Province.

The Monaragala District offers abundant human resources at a competitive cost with a literacy rate of 85 per cent. An excellent business framework backed by the Chamber of Commerce and Industry of Monaragala District (CCIMD) gives new impetus and dimension to the District's investment climate.

Monaragala offers one of the most business friendly environments in Sri Lanka and total foreign ownership is welcome in most areas of the economy.

The private sector plays a vital role in traditional areas of public investment such as transport, energy and telecommunication. The burgeoning high end apparel industry based at the Buttala Export Processing Zone yields many opportunities for investment. The tourism industry and leisure sector enjoys an accelerated growth after the tsunami.

The people of the District indulge themselves in many forms of art such as dancing, music or painting. Kataragama a favourite pilgrimage location visited by Sri Lankans of all religions is an important destination to foster reconciliation and peace.

Monaragala is a tropical land of legendary beauty with a civilization dating back 2,500 years. It has many places of interest such as the Maligawila Buddha statue carved in 600 A.D, Yudaganava Viharaya and the bustling cities of Monaragala, Buttala and Kataragama. Geographic diversity gives Monaragala a rich wild life resource. The Yala National Park located on the Southern edge of the district is a wild life conservation park.

Agriculture in the District is the largest sector accounting for 40 percent of the Gross Domestic Product (GDP). An abundance of arable land with many lakes and reservoirs makes the District a perfect location for agro based industries. Paddy, coconut, sugarcane and Bananas are the main crops in the area. Governments from time to time have introduced a range of incentives to enable farmers to boost production and increase output by allowing foreign direct investment in the agriculture sector.

Monaragala has basic attributes for successful agro-based industries, rich alluvial soil, water and labour. The District has divided the agro industry into food crops, cash crops, long-term crops, vegetables and fruits. Mechanisation of agriculture has played an important role in increasing yields.

Progressive agriculture practices, improving marketing techniques, and modern processing facilities would enable the agro processing industry to improve its quality and expand production levels significantly.

The Monaragala District is a leading area in the production of milk. Daily 11,400 litres and 5,400 litres of milk are produced from Cattle and Buffaloes respectively. Buffalo milk is used for the production of curd and cows milk is used to produce milk powder and liquid milk.

Poultry is another sector which is improving in quality and production in the district. The new strategy of the Government envisages improving the performance of industry to produce high growth rates.

Fresh water fisheries are carried out in perennial and seasonal tanks. Increasing fish production with modern cold storage facilities would enable the fish processing sector in the District to improve its quality.

A wide range of housing and accommodation is available in the District to suit different lifestyles. Welcomed by the hospitality of smiling people and timeless enchantment of the land of legends and ancient irrigation systems Monaragala, should is an ideal location for your next investment.