Rs. 490 m investment - EDB approves 24 projects
 

by Lalin Fernandopulle

The Export Development Board (EDB) has approved 24 Integrated Agriculture Model Projects (IAMP) with an investment of Rs. 490 million.

The export earnings anticipated from the projects for 2006 are Rs. 627 million and by 2009 Rs. 1,630 million, according to the Progress Report of the 'Mahinda Chintana' Action Plan.

The agricultural projects launched in the Galle, Gampaha, Kurunegala, Kandy and Nuwara-Eliya districts will include fruits, vegetables, spices, virgin coconut oil, foliage plants, mushroom, coir products and processed food.

Enterprise Development and Investment Promotion Minister Rohitha Bogollagama said the IAMPs will generate 653 direct employment opportunities and around 3,173 jobs for outgrowers. The beetle, fruit, coir, coconut oil and finished food industries under the (EDB) contribute to the export earnings of the country.

The government will focus on developing local industries such as gem and jewellery with training, equipment and finance for research and value enhancement. An investment promotion zone will be set up in the Ratnapura district.

The government has launched several training programs at provincial level to improve the entrepreneurial skills of youth in the export oriented small and medium enterprise sector.

The 300 factory project has been a fruitful venture initiated by President Mahinda Rajapaksa and it has proved profitable in generating employment to thousands of youth in villages, Bogollagama said.

A factory will be set up in each Divisional Secretariat. Over 125 applications to set up factories have been refuelled for approval of which 69 have been granted. Of the 69 factories 20 in 20 districts have already been set up.

There will be 12 investment zones covering 12 districts and one investment development zone for the gem industry will be set up.

Two textile development zones at Thulhiriya and Horana will be set up while a school of textile education will be established in Thulhiriya.

Several projects will be launched to improve the infrastructure facilities in export development zones, Bogollagama said.

President Rajapaksa expressed his fullest support to create a competitive market for local entrepreneurs to develop their entrepreneurial skills to meet international standards.

He said there is a great demand for Sri Lankan gems and jewellery in Pakistan. Those involved in the gem and jewellery industry should exploit their skills to market our products overseas.