Six BOI companies begin operations

by Lalin Fernandopulle

Over 84 projects under the 'Nipayum Sri Lanka' 300 enterprises program have been approved by the Board of Investment (BOI) and six have commenced operations. Of the 84 approved projects 31 have been finalised and 19 have started construction, Deputy Director General Investment Promotion BOI A. M. C. Kulasekara said.

The six companies that have commenced operations are MAS Active (Pvt) Ltd at Middeniya, Excell Clothing (Pvt) Ltd. at Elpitiya, VT Manufacturing (Pvt) Ltd. at Kotmale, Kinwill Garments (Pvt) Ltd. at Nikaweratiya, EAM Maliban (Pvt) Ltd. at Balangoda and MJ International (Pvt) Ltd at Ridigama. Kulasekara said around 10 to 15 more factories will be set up in the next six months. There will be plenty of employment opportunities created through the new factories.

Already some factories have over 1,000 and some above 500 employees.

BOI sources said people in the rural areas do not enjoy the benefits of development. The benefits of development should trickle down to the masses. Development within regions had been uneven and there was a need for justice for all. It is to remedy the social and economic imbalance that the factory program was launched, he said.

With the opening of the six factories job opportunities have been created. There would be more jobs created when the rest gets off the ground.

The Nipayum Sri Lanka program set up one private sector company in each Divisional Secretariat of the country. This is essentially a strategic plan for the country to achieve development at grassroots level, Kulasekara said.

Chairman BOI Prof. Lakshman R. Watawala said the 300 enterprises program has placed the country on a growth path initiating economic activities in the rural sector.