BOI boosts Northern Province development by adding three new zones

Wednesday, 9 April 2025 00:12 - - {{hitsCtrl.values.hits}}

On his first visit to the north as the Board of Investment Chairman Arjuna Herath sought support from the relevant Government officials to speed up the initial steps to ensure that the infrastructure facilities of the proposed investment zones in Kankesanthurai, Paranthan, and Mankulam can be finished promptly.

He said this will ensure that investors can begin construction of their projects by the end of the third quarter of this year.

Herath asked for these actions at the meeting in the Governor’s Office in Jaffna to review the progress of the Northern Province investment zones. The Governor of the Northern Province presided over the meeting. The meeting, led by Northern Province Governor N. Vedanayagam, included State institution leaders involved in new investment zones, potential investors, and Northern Province Chamber of Commerce members.

BOI officials said that the new investment zones will create about 16,000 direct jobs and 50,000 indirect jobs.

“Additionally, we will implement measures to establish these investment zones as ecologically friendly green investment zones. These zones are more environmentally friendly and cause less environmental pollution. Furthermore, these zones will comply with international standards for green initiatives, which will enhance the attraction of foreign direct investment (FDI) to the newly established zones,” Herath said.

The new investment zones include both the chemical manufacturing plant in Paranthan and an abandoned old cement factory in Kankesanthurai. Chemical and cement manufacturing previously occupied both of these sites. The BOI also underlined how crucial it is to introduce fresh economic activity to the areas.

This revitalisation not only aims to boost local employment but also fosters sustainable development in the region. By focusing on eco-friendly practices, these projects will contribute to the long-term economic resilience of the communities involved.

The Kankesanthurai Investment Zone will feature three entry methods—air, sea, and rail—to effectively attract investment. Northern Province officials are clear about the investment types they want in the new zones. Launching new investment projects in the northern area should match the aspirations of the youth. The Paranthan Investment Zone and the Mankulam Investment Zone should be able to attract a diverse range of industries, not only bringing much-needed funds to the country but also providing new opportunities for learning and technology transfer, as well as up skilling opportunities for Northern youth.

All stakeholders in the BOI New Zones Project were evidently enthusiastic, as evidenced by the well-attended program. Among the stakeholders were the Governor of the Northern Province, District Secretaries of Jaffna, Kilinochchi, and Mulathive; the Chief Secretary of the Northern Province; the Jaffna Chamber of Commerce; and the District Secretary of Mannar.

Key Government organisation representatives of the National Water Supply and Drainage Board, Ceylon Electricity Board, Road Development Authority, Forest Department, and Survey Department were also present.

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