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Monday, September 29, 2014 - 06.25 GMT

BOI investor forum in Jaffna today

 

An 'Investor Forum' in Jaffna is set to take place today (Sep. 29) through the initiation of the Board of Investments (BOI) and a group of potential parties ranging from a number of enterprises who have received networking opportunities, from the BOI.

"Current investment projects that is being instigated in the Jaffna District comprises of companies mainly in the agricultural, fisheries and tourism sectors, "said Investment Promotion Minister, Lakshman Yapa Abeywardena.

The Minister also said the Government is currently focusing on stringently following the aspect of further improving the standard of education for youth in the Northern region and advancing the level of technology use as well, for this segment.

As of current in terms of local and foreign investments that has made its way to the northern part of the country, the BOI is engaged in the initiation and implementation stages of ten projects in Jaffna, out of which six have already seen fruition. The same goes with a total of seven projects in Vavuniya, five in Killinochchi, nine in Mannar and one project awaiting implementation in Mullaitivu.

"The Government needs the combined efforts from all relevant authorities and Pradeshiya Sabhas in order to cooperate towards better causes and equally assist to attract foreign and local investments to the Northern region through the basis of discussions and resilience.

This also comprises the fact that in order to receive the benefit of investments, infrastructural facilities such as roads, water and electricity has to be fully structured and implemented for ease of doing business.

Jaffna had unfortunately never had the privilege of fully benefitting from the essential boost in its economic backdrop and this has been ongoing even before the onset of the nearly three decade war. After independence in 1948 up until 1994, was the time that Jaffna never experienced much investments, Minister Abeywardena added.

All investment projects that are currently in commercial operation under the Board of Investment (BOI) are recorded to be around Rs.5990.66 million, the Minister said.

Projects that are yet to be implemented or that are found to be in the initial stages of agreement signing, amount to a proposed investment figure of Rs.2029.77 million as of now, he said.

He also acknowledged that from 1995 to 2004 Jaffna had achieved a total investment of Rs.66, 712 million, generated from 26 successful projects and provided employment for 4,833 individuals.


 

 
 
   
   
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Last modified: September 29, 2014.

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