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Bogollagama to launch Trinco Economic zone

Minister of Enterprise Development and Investment Promotion, Rohitha Bogollagama will launch the Trincomalee Special Economic Zone today at Kappalturai.

The Minister said the site at Kappalturai is considered to be the most attractive location in the country to set up an economic zone since the Trincomalee harbour is recognised internationally as one of the best natural harbours in the world.

The economic zone in Trincomalee is one of the 12 proposed zones in the 2006 Budget Developing the rural sector and the lifestyle of the people through sustainable economic programs is the primary task of the government under the Mahinda Chintana, Bogollagama said.

Cabinet approval for the economic zone was granted on February 16, 2006 to gazette an approximate area of 675 kilometres for the project. President Mahinda Rajapaksa has identified Trincomalee as an ideal location for the country's future economic development.

The Minister said substantial foreign investment is anticipated from the economic zone due to its strategic location.

The objectives of the project are to create an entrepreneurial spirit by encouraging long term investment and building a new industrial culture through a healthy private-public partnership.

As the Trincomalee port is a convenient location for Far East investors the economic zone will be a leading provider of port related products and services to international markets, the Minister said.

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