The Eastern Province has turned out to be the Northern hub in development process and the province has turned out to be a paradise for investors. After ending its 30 years long conflict, Sri Lanka now sees its former war-torn Eastern Province which is bestowed with very beautiful beaches as a fantastic area for tourism promotion.
"Eastern is a virgin territory, it is a fantastic area with beach fronts where joint ventures or investments can work," quoting Prasad Kariyawasam, High Commissioner of Sri Lanka in India the Hindu reported. He said that there is lot of confidence among investors in Sri Lanka as a destination. "We have a board of investment, which is a one-stop shop for this kind of needs," he said adding that serious investors should visit the area and see for themselves.
Kariyawasam said there are massive tax holidays offered by the government coupled with incentives like 100 per cent foreign ownership and also 100 per cent profit repatriation. "Considering manpower shortage in the country, even foreign labours are allowed in this sector," he added. Kariyawasam said that areas of the country, both in the interiors as well as the coast that were inaccessible to tourists for 30 long years are now opening up.