$ 10m investment for hub operation

The Board of Investment of Sri Lanka(BOI) signed an agreement recently with Glowbal Outlets (Pvt) Ltd, a Canadian investment firm, to undertake logistics services for international clients. BOI Chairman Dr Lakshman Jayaweera and President of Glowbal Outlets Ramzey Hammound signed the agreement.

The venture which is the second warehouse investment project signed under 'Hub Operations' will be set up at the Katunayake Export Processing Zone. The investment will generate many direct employment opportunities.

The Hub Operation is an integral part of the policy of the Government to transform Sri Lanka into an economic hub for aviation, maritime activities, energy, knowledge, commercial activities and tourism.

These operations are a new sector which the BOI is actively promoting. It includes a wide range of activities such as enterpot trade, offshore business, front end services to clients abroad, regional headquarters and logistics service such as bonded warehouses.