Sri Lanka – China Logistics and Industrial Zone inaugurated
Inauguration ceremony of the Sri Lanka – China Logistics and Industrial Zone (SLCLIZ) to be set up within the ‘Ruhunu Economic Development Area’ in Hambantota was held this morning under the patronage of Prime Minister Ranil Wickremsinghe.
The plaque was opened by the Prime Minister Wickremeisnghe and the Ambassador to People’s Republic of China in Sri Lanka Yi Xian Ling.
The SLCLIZ in Hambantota is set up in accordance with the national drive towards making Sri Lanka the Economic thousands HUB in the Indian Ocean, thereby creating thousands of productive employment opportunities and commemorating the third year of ‘The Era of Sustainable Development’ under the aegis of President Maithripala Sirisena.
The investment of the project implemented in collaboration with the People’s Republic of China is expected to be about USD five billion within three years. A land extend of 1,235 acres has been allocated for the construction of the zone.
This will generate about 100, 000 job opportunities for youth of the area.
(Government News Portal)
- Sri Lanka’s Central Bank warns general public over 8 pyramid-type schemes May 31, 2023
- Sri Lankan Rupee appreciates against U.S. Dollar May 31, 2023
- Chinese reaffirms support for Sri Lanka’s economic recovery May 31, 2023
- Sri Lanka’s Central Bank to hold rates as inflation stays high May 31, 2023
- Sri Lanka to initiate new online passport application system May 30, 2023
- India extends USD 1 Billion Credit Line for Sri Lanka until March 2024 May 30, 2023
- Cabinet approves resume of the Colombo Light Rail Transit project May 30, 2023
This project is bigger than the Accelerated Mahaweli Development Program undertaken by the UNP in the early 70’s.
It has the potential to significantly alter the economic landscape of the South. The side effects will filter into the rest of the island and also impact positively on social relations throughout the island.