Fresh legislation to develop south presented to P’ment

Thursday, 22 August 2019 00:45 - - {{hitsCtrl.values.hits}}

Ruhunu Economic Development Corporation Bill to foster development in Matara, Galle, and H’tota

By Ashwin Hemmathagama – Our Lobby Correspondent

The Government yesterday moved the Ruhunu Economic Development Corporation of Sri Lanka Bill in Parliament to develop the southern regions of the country by establishing export processing and tourism zones to foster development and economic growth.

The Bill provides for the establishment of the Ruhunu Economic Development Corporation of Sri Lanka for the purpose of identifying, formulating and coordinating the implementation of Economic Development Projects, Plans, Programmes or Schemes within the Ruhunu Development Area and for matters connected.

The Bill received from the Legal Draftsman, prepared on the lines of the Greater Colombo Economic Commission, will support establishing export-oriented special economic zones attracting foreign investors and creating employment for youth in Southern Sri Lanka.

According to Government plans, Ruhunu and Hambantota have been earmarked to establish an investment zone to compete with those in the Western Province. Export Processing Zones are expected to be established in Galle and Matara with several large tourism zones reaching 500 acres also to be set up by the Government.

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