The Government will facilitate land allocations for investments worth over Rs. 24 billion in regional industrial zones.

According to the Daily FT, the Cabinet has announced this move as part of its efforts to establish factories in Provinces.

A proposal submitted by the Industries Ministry to allocate land plots from eight industrial zones on a 35-year lease basis to 22 investors under the Regional Investment Zones (RIZ) Development Program implemented by the Ministry has received Cabinet approval.

The proposal was approved following recommendations by the project evaluation committee of the Ministries Regional Industrial Services Committees.

Cabinet Spokesman Minister Keheliya Rambukwella said the Government hopes to generate some 3,300 jobs via the new industries.

He said potential investors are willing to invest Rs. 24,047.85 million and US$ 3 million in these projects.

Minister Rambukwella added that it has also been estimated that 3,326 direct employment opportunities will be generated from these projects.