‘Investments up 74 percent'
Investments in the country have increased by 74 percent from 2005 to
2014. Infrastructure facilities have also been developed by the same
percentage, Investment Promotion Minister Lakshman Yapa Abeywardena
He said that the Government is committed to protect the environment
while improving the industrial sector. Both sectors have been given due
The S&D Chemicals (Pvt) Limited in Piliyandala was closed down due to
a small reason.
“But within a couple of weeks we held talks with the authorities of
the Biyagama Export Processing Zone and relocated the factory in the
zone,” the Minister said.
The same thing happened at the factory at Rathupaswala. Whatever the
problem we can overcome it.
This factory will be re-opened at a suitable location,” Minister
He said that it is important to listen to the views of the people
while protecting the industrial sector. Protecting the industrial sector
is the prime duty of the Government. The BOI is engaged in investment
promotion programs while protecting the privileges of the people.
Certain views expressed by the people may be complex and difficult to
implement, but listening to them is the duty of the Government. Minister
Abeywardena said that whatever problems that may arise, protecting the
industrial sector is the bounden duty of the Board of Investment (BOI)
and no room will be left for the industrial sector to collapse.
He said that the Probe Magazine in an article gave 10 reasons why Sri
Lanka is suitable for investments. The magazine described Sri Lanka as
one of the countries which provides good facilities to investors.
It commended the political stability in Sri Lanka, the infrastructure
facilities available and human and natural resources available in the
country, the Minister said.
The magazine has mentioned that Sri Lanka could be a business hub and
the elimination of terrorism has transformed the country as a favourable
destination for investment, he said.“It follows a strong land policy
where a foreigner can't purchase land outright," he said.
According to Mahinda Chinthana national development policy, the
Government has to follow certain principles where our culture and
biodiversity is protected and the hopes of the people are fulfilled.
Even while following such policies Sri Lanka has received a great amount
of investment,” Abeywardena said.When the Biyagama Export Processing
Zone was set up there were factories which were suitable and not
suitable to the area.
There were no permanent policies as to what type of industries should
be allowed and what type should be taken to villages. Today, the
Government does everything identifying the needs in the area. Hambantota
which remained a remote area has been developed into a favourable
destination for investments, the Minister said.