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Last updateThu, 25 May 2017 10am

Business News

The agreements pertaining to the Hambantota investment zone will be signed on Saturday.

 

Co-Cabinet spokesman Minister Rajitha Senaratne says pertaining to the Hambantota investment zone will be signed on Saturday. The cabinet has given already given approval to a BOI agreement under 99 year lease with a Chinese company.

At the cabinet press briefing held in Colombo today, the minister said the projects in Hambantota have become white elephants. It is essential to make the profitable without causing burden to the public.

The minister further said that the government will present the Draft Bill of special development provisions again with suitable amendments. Such a Bill is needed to steer the country towards rapid development. Minister Gayantha Karunatilleke said that a number of factories will be set up within next two weeks in order to create 20 thousand employment opportunities.

Two such projects were launched yesterday in Kuliyapitiya and Giriulla. A tyre factory will be stated in Kalutara area tomorrow. Another new factory that creates over 7,000 employment opportunities will commence from next Friday.

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