Kankesanthurai, Paranthan, and Mankulam have been selected for further infrastructure capacity building from the Northern Province, for prompt investor construction projects by the third quarter of the year, a statement by the Board of Investment (BOI) has said.
“On his first visit 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 are finished promptly and that investors can begin construction of their projects by the end of the third quarter of this year,” the statement said.
The statement said that 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.
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. We 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 upskilling opportunities for northern youth.