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'Magnetic North' booming as the new BOI investment destination

The Northern Province has benefited from investment as a result of the efforts of the Board of Investment of Sri Lanka.The BOI opened a dedicated office in Jaffna in 2010 to attract and facilitate investment into the province. Whilst it is correct to say the Northern Province does have considerable potential, many opportunities still remain untapped as a result of the effects of the past conflict affecting that region in particular.In spite of these challenges the BOI places high priority in investment in the North as this effort is more than just development and part of the process of strengthening inclusiveness and reconciliation in the country.Among the BOI investments, currently there are 6 Apparel manufacturers which represent an investment of Rs. 8 billion and employ 7,917 workers. Another 15 projects in different sectors are also operational and represent investments of Rs. 16,293 million and provide employment to 837 workers in the Northern Province.

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