The Board of Investment of Sri Lanka (BOI) signed agreements for new projects with two South Korean and Saudi Arabian companied.

The agreement signed with Direct Technologies Limited is for a project to develop and export software and provide IT related services for overseas clients. The investment is made by Saudi Arabian company, National Technology Group.

The company provides Online Stock Trading Solution, “Mubasher”. The project will integrate the global solution with reputable banks and brokers to trade with the solution.

According to a BOI press release, the venture with an initial investment of US $ 300,000 will generate around 100 employment opportunities.

The agreement signed with Korea Lanka Plastics is for a project to manufacture woven plastic bags for industrial use. The investment for this project is sponsored by Hyosungo & Tec Company, South Korea.

The venture is an investment of Rs. 54 million and will create employment opportunities for a work force of 100. The manufacturing plant will be located at Horana and will commence commercial operations in September.