“Fourteen export zones to be established within two years” | Daily News
With export diversification:

“Fourteen export zones to be established within two years”

State Minister of Aviation and Export Zones Development D. V. Chanaka said that 14 export zones will be established within the two years 2021 and 2022 and that steps will be taken to double the number of export zones in this country.

He said that Minister of Finance Basil Rajapaksa has already granted initial financial provisions and approvals required for this purpose. The Finance Minister’s aspiration is to increase export income by producing value added products and exporting them and manufacturing imported goods as much as possible within the country.

Accordingly, three new zones in Oyamaduwa, Hambantota and Millaniya for manufacturing of drugs are being developed. 85% of the requirement of drugs in this country is being imported. More than Rs. 18 billion is spent on this annually.

This amount increases year by year. By establishing these three new zones, it is intended to fulfill 85% of the drug requirements in this country. In addition, it is expected to earn about USD 1 bn annually through the export of drugs.

Based on a request made by Minister Namal Rajapaksa, areas on Sooriyawewa, Homagama, Henagama and Kundasale have been identified for establishing new information technology zones.

These zones are being constructed, generating professional opportunities which will provide high salaries to the youth of this country.

Raw materials required for the garment industry in this country are being imported from countries such as China, India, Taiwan and Indonesia. Since these countries are also engaged in producing garments and as a result of the global competitiveness there are problems regarding obtaining raw materials on time.

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