Many opportunities for investors in North and East

The peaceful situation in the country has opened up many opportunities in the North and the East in areas such as construction, tourism, agriculture, fisheries, education, healthcare which was hitherto unexplored due to the 30 year war.

Addressing the Biz Pact investment forum in Jaffna partner Ernest and Young Arjuna Herath said that reconstruction and rehabilitation is creating many opportunities.

Be it the reconstruction of 12,000 houses at a cost of Rs. 2.5 bn or the reconstruction of the Vavuniya-Kankasanthurai rail track at Rs. 14 bn, bus depots in Mullaitivu and Kilinochchi as well as renovating five other depots at a cost of Rs. 2.1 bn as well as rebuilding of A-9 as well as other roads in and around Wanni and Jaffna are all opportunities.

He said that there are many opportunities in the agriculture sector in palmyra, fruits and vegetables, transportation, collection centres processing centres and logistic centres.

He said that palmyra is used to make jaggery, pal sugar, arrack and fibre products. While the excess amount of fruits and vegetables can be processed or dehydrated. There are opportunities in the transport sector too such as providing facilities to link farmers, factories and markets. This will help the producers to earn a better price for their products as well as reduced price of products will help reduce the burden of the consumers.

There is also opportunities to build and operate collection centres, freight stations, processing centres as well as logistic centres for packing, labelling, tagging and storage. Some of the investors were interested to start joint ventures in storage facilities as well as freight stations while some chambers are mooting the idea of opening a dedicated economic agricultural centre. There are also openings for the cement and mining industry and investors such as Holcim and Indian investors has shown an interest in the cement industry.

The novel concept of farm accommodation has been proposed in Vakarai, Mannar and Welikanda where tourists will be able to experience natural habitats with individual suites designed in an eco friendly manner.

In addition there are plans to setup hotels, cabanas, restaurants for which they invite investors. In the fisheries sector too there is potential to develop especially in deep sea fishing but they require investments on day boats, multi day boats and the fisheries harbours in Kankasanturai and Milady which should be government initiatives.

(SG)