JITF, a boost for industrial development in North

By Lalin Fernandopulle

The Achchuveli Industrial Zone in the North which is expected to have a large number of factories, will be opened shortly, Traditional and Small Enterprise Development Ministry Secretary V. Sivagnasothy told the media at a ceremony to launch the sixth edition of the Jaffna International Trade Fair (JITF) last week.

He said that work on the project is nearing completion and will be commissioned shortly. The industrial zone will be a major boost to regional economic growth providing a large number of job opportunities for youth in the area.

The Achchuveli Industrial Park belonging to the Industrial Development Board comprises an area of 64 acres. The park was destroyed during the battle against terrorism. The reconstruction of the industrial park was initiated with , financial assistance from the Indian Government to the tune of Rs 175 million and the Sri Lankan Government contributing Rs 25 million.

“Infrastructure facilities including, roads, drinking water, sanitary facilities and electricity have been put in place. The industrial zone will be developed in two stages. The first stage comprises developing around 24 acres to enable industrialists to launch ventures. The ministry is prioritising sectors to promote value-added product manufacturing at the zone and industrialists have been selected,” Sivagnanasothy said.

He said that steps have been taken to re-activate the Elephant Pass saltern under the Uthuru Vasanthaya program.

We will set up manufacturing villages for handicraft, pottery and palmyrah products.

Chairman, Chamber of Commerce and Industries of Jaffna, K. Poornachandran said that following the reconstruction in the Northern province, opportunities for investment and setting up of new ventures has increased.

There is ample scope for private sector investment in the tourism and construction sectors. “There is a lack of private sector investment in the North. The chamber has taken steps to create awareness and promote business ventures in the agriculture and tourism sectors. The palmyrah industry has been revived. The lack of a stable market for palmyrah products is a drawback for the growth of the industry,” Poornachandran said. He said that within a six-hour drive to the North one could see the changes that have taken place in the region. There is electricity and roads have been renovated.

Industry and Commerce Minister Rishard Bathiudeen said that the JITF will be an impetus to accelerate development in the North which is yet a virgin territory with enormous potential for industrial development.The Northern province recorded the highest GDP growth rate in recent years led by industry and service sectors, banking and construction sectors. No province could achieve sustainable development without adopting new technologies in manufacturing,” Bathiudeen said.The North with its diverse attractions has been a preferred destination for tourists. Lack of hotel accommodation has been setback to woo visitors to the region. Bathiudeen said that the North has much scope for medium to large scale commercial agriculture and seafood harvesting. Private sector investment will help boost growth in these sectors. Banking, finance and insurance is another potential sector which JITF 2015 should focus on. Managing Director, Lanka Exhibition and Conference Services (Pvt) Ltd (LECS), Arjun Dharmadasa said that JITF is an occasion where people in the North meet friends in other provinces and is an opportunity to strengthen relations and cooperation for joint business ventures.