Cabinet nod to allocate lands from 10 regional industrial parks for 24 new ventures

Wednesday, 29 September 2021 00:20 - - {{hitsCtrl.values.hits}}

Selection of investors for projects will be through Regional Industries Services Committee
Land will be allocated on 35-year long-term lease, subject to recommendations

The Cabinet of Ministers this week approved to allocate plots of land from 10 regional industrial parks, in a bid to establish 24 new industries.

The Regional Industries Development Program is a key initiative implemented with the objective of promoting industries at regional level.

Describing the initiative as a progressive move, Co-Cabinet Spokesman and Mass Media Minister Dullas Alahapperuma yesterday said the project would not only attract investments but would also generate employment at a regional level.

“We have often heard that people from the villages come to urban cities in search of employment, but through this initiative, the Government hopes to create employment within regional communities,” he said at the weekly post-Cabinet meeting media briefing.

The Ministerial Project Evaluation Committee appointed by the Industries Ministry Secretary has recommended these 24 new proposals following thorough evaluation and feasibility studies.

Selection of investors for the projects will be conducted followed by a total evaluation of project proposals by the Regional Industries Services Committee initiated under the Industries Promotion Act No. 40 of 1990 and the Ministerial Project Evaluation Committee.

These plots of land will be allocated on the basis of long-term lease for 35 years to the relevant investors/entrepreneurs, subject to the said recommendations.

The proposal to this effect submitted by the Industries Minister Wimal Weerawansa was approved by the Cabinet of Ministers.