This is a wonderful opportunity for you to be a part of one of the most vibrant development projects in the history of Sri Lanka by investing in the East. The Eastern Province carries a diverse resource base and is home to a natural habour and some of the world’s most beautiful beaches. In addition, the Government of Sri Lanka provides a variety of tax concessions and incentives for the potential investors.
Investment Opportunities Available
- Tourism and recreational activities
- Oil refinery, oil storage facilities, petroleum based products
- Power generation
- Cement plants
- Port related activities /ship building and repairs
- Mineral resource developments
- Agriculture, agro-forestry
- Fertilizer manufacturing
- Livestock development
- Ice manufacturing and cool room facilities
- Deep-sea fishing and fish-processing
- Light industries and local resource based SMEs
- Large and small scale infrastructure developments
The Board of Investment of Sri Lanka (BOI), the apex body responsible for investor relations, offers a special Incentive Package for the projects to be set up in the Eastern Province.
1. Income Tax Concessions
2. Revival of Sick Companies and Expansion of Existing Companies
The above concessions will also be available for revival of a sick company provided they set up a new company with the acquisition of assets of a sick company. Existing companies who set up an expansion unit will be eligible for a five (05) year tax holiday along with other concessions subject to satisfying investment & employment criteria given below:
3. Other Concessions
Land and Infrastructure Support
- State lands at concessionary rates to be made available
- 50% subsidy on cost of power connection up to a maximum of Rs. 2 million per project. This facility would be available for the first 50 projects once the factory buildings are completed.
- Newly designed road network.
- Export Market oriented projects - Capital goods, construction materials (80% exports) and raw-materials are permitted to be imported on duty free basis.
- Domestic Market oriented - Capital goods & construction Projects materials are permitted to be imported on duty free basis.
Tractors, agricultural implements and freezer trucks are permitted to be imported on duty free basis.
Trincomalee Special Economic Zone (SEZ)
Approval of Cabinet of Ministers was granted on 15th February 2006 to gazette approximately area of 675 Sq Km as a SPECIAL ECONOMIC ZONE (SEZ) under the Board of Investment of Sri Lanka (BOI) Act.
BOI has declared on 16th October 2006 Trincomalee as a LICENSED ZONE under the BOI Act.
The Extraordinary Gazette Notification
For the official notification on tax concessions and incentives provided by BOI for the investments in the Eastern Province, see the pdf copy of the Gazette of GOSL.
For more investor details, visit BOI website: www.boi.lk
Contact Eastern Revival Programme for more information:
If you would like to invest in the beautiful East of Sri Lanka, please fill out the form below:
