Sri Lanka’s IDB announces strategic shift in industrial development

Sri Lanka’s Industrial Development Board (IDB) will focus on the electrical, electronic, and mechanical sectors when assigning land for new industries in the future, according to IDB Chairman Ravi Nissanka.

Nissanka said that the IDB has been collecting business proposals through a new initiative. He added that the board plans to create a strategy to assign land to the most promising proposals.

He stated that projects in the electrical, electronic, and mechanical sectors will be given priority, as these industries can be quickly initiated and are anticipated to offer immediate economic advantages to the country.

Attribution: Xinhua

Subediting: M. S. Salama

 

 

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