Investment projects worth nearly Rs. 6 billion under operation in Jaffna

All investment projects that are currently in commercial operation under the Board of Investment (BOI) is recorded to be around Rs. 5.99 billion.
Addressing the ‘Investor Forum’ held in Jaffna Monday (September 29), the Investment Promotion Minister, Lakshman Yapa Abeywardena said the 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. 2.03 billion.

He said the current investment projects that are being initiated in the Jaffna district mainly include companies in the agricultural, fisheries and tourism sectors.

The investor forum was held through the initiation of the Board of Investments (BOI) and a group of potential parties ranging from a number of enterprises which have received networking opportunities from the BOI.

Currently, the BOI is engaged in the initiation and implementation stages of ten projects in Jaffna with local and foreign investments. Six of the projects have already seen fruition.

Elsewhere in the Northern Province, a total of seven projects in Vavuniya, five in Kilinochchi, nine in Mannar and one project awaiting implementation in Mullaitivu are being initiated.

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 said.

“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,” he said.

He said 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.

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.