BOI tax concessions and benefits for local investments below 30 million [Monday , July 24, 2006 - 9.30 GMT]

Industrial Development Minister Kumara Welgama said that steps would be taken to provide BOI tax concessions and benefits to local investments above 30 million as well as to investments of 10 – 20 million, which would help create new employment opportunities to over 200 small and medium scale industrialists.

The minister further said it has been decided to implement this with the objective of creating more and more employment opportunities through new investments by encouraging small and medium scale local industrialists.

The Minister was addressing a ceremonial gathering at the Fullerton Industrial Estate in Kalutara, after the laying of the foundation stone to the Regent Apparels Factory being the fifth factory to be approved under the 300 Factories programme under the Ministry of Industrial Development. This Factory would be a Rs.45 million investment that hopes to provide employment to 400 people.

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Last Updated Date: July 24, 2006 -9.30 GMT