BOI invites expats to invest in N-E

The Board of Investment (BOI) has extended an invitation to the Sri Lankan expatriate groups to invest in the development of the country and in particular the North and the East.

Speaking to Sunday Observer the new Chairman/Director General, BOI, Jayampathi Bandaranayake, said that in today's global context, there are Sri Lankan nationals who have taken up citizenship in many countries around the world, and a substantial number of them are with emotional ties with the North and the East of this country and we request them to come and invest in their motherland".

Both the Northern and Eastern Provinces will need the infrastructure support for the revival of economic activity in the manufacturing sector. "Work has begun in locating industries in areas such as Trincomalee. Government initiatives are also underway in reviving the Atchuveli industrial zone in the Jaffna Peninsula. I must add that four apparel factories are to be established these and they will employ 4,000 workers. This will help uplift the lives of many people in that area," he said.The Indian government too has said they would explore the possibility of assisting in upgrading the Palali Airbase and the KKS harbour to international standards.

Commenting on the functions of the new BOI office in Jaffna he said that it is still premature to expect appreciable results. "I think it is important to understand that the conflict ended just a year ago and we only opened the BOI office in Jaffna in April this year. "However there has been a number of enquiries by potential investors and even a few agreements for hotels and other projects have been signed."