Dubai's ARY Group to invest in sugar industry

INVESTMENT: President of the World Memon Association and Chairman of ARY Group Abdul Razzak Yaqoob said that they are interested in investing in the sugar industry in Sri Lanka.

Yaqoob who was in Sri Lanka to attend the World Memon Association A.G.M. in Colombo disclosed this when he met the Minister of Enterprise Development & Investment Promotion, Rohitha Bogollagama on Monday.

Minister Bogollagama said that the Government of Sri Lanka is directly involved in providing necessary support to foreign direct investments.

He said that several incentives would be provided to investors through the Government's new 12 Investment Zones programme.

Yaqoob said that his company will conduct necessary feasibility studies on investing in Sri Lanka and will discuss with relevant officials in order to effect new investments in the Industry.

The Minister said that lands to cultivate sugar cane can be provided from Puttalam area and the Government can provide the necessary infrastructure can be provided by the Government.

Deputy Minister of Plan, Implementation Hussain A. Bhaila was also present at the meeting.