Thirteen BoI projects worth Rs. 15b approved

COLOMBO: Thirteen new BoI projects involving a total investment of nearly Rs. 15,000 million has been approved by the Enterprise Development and Investment Promotion Ministry from January 29 to February 9 this year.

These projects will generate nearly 12,000 jobs for Sri Lankans creating a sharp dent in the unemployment figures and increasing national income by accelerating development, an Enterprise Development and Investment Promotion Ministry release said.

Minister Dr. Sarath Amunugama had received 15 project proposals through the BoI from January 29 to February 9 but approval was granted to only 13 of them.

The 13 approved projects are from Indian, Korean and local investors.

Among them are projects involving glass based products, tourist hotels, large scale housing projects, garment industries, motor-mechanism training centres, dry battery industries and export based furniture industries.

When Dr. Amunugama assumed duties as the new Minister of Enterprise Development and Investment Promotion he described foreign investment as the most decisive factor for Sri Lanka’s future development.

He said prompt attention should be given to foreign investors to enable them to launch their industries without delay.