BOI signs agreement with Chinese conglomerate:
Chinese Economic Zone to be set up at Mirigama
The Board of Investment of Sri Lanka (BOI) signed an agreement
yesterday with Chinese conglomerate Huichen Investment (Holdings) (Pvt)
Ltd., to set up and manage a dedicated Chinese Special Economic Zone (SEZ)
“The Chinese company will invest US$ 28 million under phase I and
further investments will be made in the next phases”, said Minister of
Enterprise Development and Investment Promotion, Anura Priyadharshana
Minister of Enterprise Development and
Investment Promotion, Anura Priyadharshana Yapa and
President, Huichen Investment (Holdings) (Pvt) Ltd., Wang Yu
Ping exchange the agreements of the dedicated Chinese
Special Economic Zone (SEZ) at Mirigama. Pic by
Huichen Investment (Holdings) (Pvt) Ltd., which will establish,
develop and market the new SEZ is also engaged in infrastructure
development including construction.
The company’s interests extend to a wide range of economic sectors
and activities such as machinery and equipment, electric motor-cycles,
light vehicle assembly, manufacturing buses, ambulances and agricultural
Twenty-nine Chinese companies have been already identified and they
will commence their enterprises in the SEZ at Mirigama and theses
industries would generate avenues of direct employment for 200 people.
The prime advantage of the zone is its location - 40 kilometres from
the Katunayake International Airport and 55 kilometres from the Colombo
With the vast network of activities and contacts in the Chinese
industry, Huichen Investment (Holdings) (Pvt) Ltd., will market the
Mirigama SEZ very effectively.
The newly developed SEZ will have standard buildings, which will
enable investors to invest on factories.
Internal roads, water and power capacity will be enhanced in addition
to sewerage and other facilities.
The minister said, “Many inquiries from other countries were coming
in after peace was restore and there is a great potential from the Sri
Lankan diaspora to invest, especially in building industry, housing and
even in tourism.
The BOI welcomes foreign investments that could start industries
generating employment and foreign exchange”.
Another advantage is that the zone is near suburban towns such as
Mirigama, Negombo, Divulapitya and Veyangoda where there are many
educated young people.
As a result the Mirigama Industrial park is ideal for projects in
information technology and business process outsourcing where young and
skilled workers are needed.
There are 12 BOI zones and this number would be increased to 12 by
the end of 2016. Emphasis will be made on setting up SEZs especially in
Kilinochchi, Batticaloa, Ampara and Trincomalee with the dawn of peace
and a new office for the BOI will be opened in Jaffna next week.
Notable construction at the SEZ will include an administrative
building, supermarkets, banks and office areas. The Chinese investors
are also looking at developing facilities such as hotels and
restaurants. Houses for workers will be provided within the industrial
The BOI SEZ at Mirigama has a 33 KW power supply from the Ceylon
Electricity Board (CEB). The zone is well equipped including drinking
water in keeping with WHO standards.
Good road links to the zone can accommodate heavy vehicles and it has
a wastewater treatment plant to cope with sewerage needs.