The cabinet of Ministers has approved the proposal to establish a special pharmaceutical manufacturing zone with modern facilities within an extent of 400 acres of the Arabokka estate in Hambantota.
The Presidential Task Force for the economic revival and eradication of poverty has identified the pharmaceutical manufacturing industry as one of the industries that can attract direct foreign investments as well as a field that possess a potential for earning foreign exchange.
Therefore, it has been planned to establish a special pharmaceutical manufacturing zone with modern facilities within an extent of 400 acres of the Arabokka estate in Hambantota so that leading pharmaceutical companies in the world would been attracted.
Declaring it as a strategic development project, it is expected to provide applicable relief and encouragement for the investors to step forward to invest in this pharmaceutical manufacturing zone.
The cabinet has approved the resolution submitted by the Minister of Health for the establishment of 20 pharmaceutical manufacturing companies within 200 acres as the first step of this project and 20 pharmaceutical manufacturing companies within 200 more acres as the second phase of this project.
The Sri Lanka Board of Investment (BOI) will furnish necessary infrastructure facilities for the project. (NewsWire)
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