Sri Lanka's BOI seeks investors for North-East

[TamilNet, Friday, 21 May 2004, 15:14 GMT]
Sri Lanka Board of Investment (BOI) has established a Regional Economic Development Office (REDO) in Trincomalee town. The main objective of the REDO is to lure people from overseas, especially Sri Lankan expatriates, to invest in the eight districts of the northeast province, REDO's Chief Executive Officer, Mr. Terrence Suntharam, told journalists Thursday.

REDO covers the eight districts of the war-torn northeast province with its headquarters in Trincomalee, which is located in the upper floor of the Trincomalee Multi Purpose Co-0operative Society (MPCS), sources said.

Mr.Suntharam said that REDO for the northeast province comes directly under the BOI Chairman, Mr. Lalith de Mel." I am answerable to BOI head," he said

Mr.Suntharam has visited all the districts of the northeast except Mannar, and also the Liberation Tigers-controlled areas of Kilinochchi and Mullaitivu, since he assumed office as the CEO of the REDO.

"I will be visiting Kilinochchi and Mullaitivu very shortly, " Mr.Suntharam said.

" We are targeting twenty investors in the initial stage. We have already received 10-12 inquiries," he added.

REDO will also promote small and medium entrepreneurs in the northeast province to launch projects in the sectors of tourism, agriculture, housing and private hospitals, he said.