Investors encouraged to take advantage of BOI’s Pharmaceutical Zone in Hambantota

The establishment of the pharmaceutical zone in an area of 400 acres of BOI land in Hambantota – Arabokka will be implemented in two stages of 200 acres each and will be declared as a “Strategic Development Project”, and strategic pharmaceutical investments established within the proposed zone will be eligible for benefits under the Strategic Development Projects Act.

Under the BOI’s sector strategy, this dedicated Pharma Zone development will be the 2nd initiative of introducing 05 zones for the thrust sectors. This State –of –Art zone will be designed by a leading architect to the International standards and will qualifies the international accreditation too. This specifically tailored zone will make a conducive and livable business environment to the world renewed pharmaceutical companies to bring the latest technological advances to manufacture its products at internationally competitive prices, while creating access to the local market.

Sanjaya Mohottala, Director General of the BOI expressing his views mentioned that if the pharmaceutical industry is developed to the anticipated level, it will lead to an industry creating a pathway to US$ 1Bn export earnings and import substitution post 2025.

This initiative is in progress under the guidance of Basil Rajapaksa, Head of the Presidential Task Force.