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by Lalin Fernandopulle

Lands that belong to the Board of Investment (BOI) of Sri Lanka cannot be mortgaged to banks under any circumstances. The BOI zone is used to enhance trade and investment. Therefore, it is pivotal that all state properties are used to develop the country in keeping with the Mahinda Chinthanaya, Minister of Enterprise Development and Investment Promotion, Rohitha Bogollagama said.

Addressing the 13th Export and Enterprise Development Forum on Tuesday the minister stressed the need for more trade and investments in the country to accelerate development.

The Minister said that the BOI has been instructed to generate more trade and investment opportunities. Special BOI concessions such as Tax Holidays are being given so that companies could make full use of the benefits.

The industrial sector is not in its full potential and progress is at snail's pace. The Agricultural and Fisheries sector needs more investment and support from the state and private sector, the Minister said.

Bogollagama said "The agricultural sector is neglected and our farmers continue to grieve over their inability to sell their harvest at a reasonable price. The Fisheries sector too is not adequately developed to meet the needs of the local and international markets".

Regional trade with India and Pakistan will attract more exporters in the export drive. The recent visit of President Mahinda Rajapakse to Pakistan has been a leap forward in the trade and investment sector.

The Free Trade Agreements between the two countries will be a good platform to launch regional trade,he said.

Regional Offices set up throughout the country would be beneficial to regional exporters to support regional trade.The first Regional Office will be launched in Trincomalee early this month. The regional trade concept is outlined in the election manifesto of President Mahinda Rajapakse who has emphasised the need to fast track rural development.

The Minister said that the EDB would make arrangements to allocate sufficient space for local entrepreneurs to display and sell their products at the Bandaranaike International Airport (BIA) since BOI companies have complained that they were prohibited to display and sell local products at the BIA.

The Export Development Board recorded a 12 percent growth in 2005 which is comparatively an admirable progress. The EDB will play a constructive role in the development of the economy, Bogollagama said.

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