Govt. to setup economic zone in Trincomalee

By Anushka Nanayakkara.

The government together with the private sector is planning to set up a 1,600 acre economic zone in Trincomalee to launch large industries, Deputy Director General Intrastructure (BOI) L. Dickman told the Sunday Observer.

There is a sharp increase in investors in the clothing industry. Board of investment (BOI) in these fields are about to be initiated in the North East.

According to the BOI with a special package has been devised for investment in the Eastern Province. In addition there are many concessions such as a tax free period of 10 years for a Rs.15 to Rs 30 million investments.

Orders have been already received for ready-made garments from countries such as Italy, USA and UK contracts with a few foreign companies are due to be signed this week. Steps have been already taken to start the project by the end of October he said.

He said that Cabinet Sub committee approval has been obtained to get the property on lease from the Sri Lanka Ports Authority.

The Deputy Director General, BOI said the Sri Lankan investment Authority has allocated Rs 100 million to invest in this project as the first step. He also said that measures have been taken to open a new circular road in Sampur and Nilaveli.

In the Provincial zone with the approval of the Provincial Secretary Tri Star Garments has bought three acres and is planning to open a clothing centre which will provide job opportunities for 2000.