Govt. to establish Investment Infrastructure Facilities Corporation

Wednesday, 31 January 2024 04:09 - - {{hitsCtrl.values.hits}}

The Government has decided to establish a new statutory body, the Investment Infrastructure Facilities Corporation.

It is set to play a pivotal role in supplying essential infrastructure facilities, including roads, electricity, and water, to investment promotion zones. Its primary mandate is to manage and establish investment promotion facilities, aimed at providing consolidated infrastructure support for investors.

“By centralising the responsibility for roads, electricity, and water within the new statutory body, the Government aims to enhance efficiency and coordination in the development of these essential facilities within the export processing zones,” Cabinet Co-Spokesman and Minister Bandula Gunawardena said yesterday.

He said the Investment Infrastructure Facilities Corporation is expected to streamline the process of providing comprehensive infrastructure solutions for investors, further facilitating and promoting investment activities in the country.

The proposal, submitted by President Ranil Wickremesinghe in his capacity as the Investment Promotion Minister, received approval from the Cabinet of Ministers.