Sri Lanka’s Cabinet has approved 23 new regional industrial development projects with a total investment of approximately Rs. 2.8 billion, a move expected to generate around 870 direct employment opportunities while strengthening industrial activity outside Colombo.

The projects were approved under the Ministry of Industry and Entrepreneurship Development, led by Minister Sunil Handunnetti, as part of the Government’s broader strategy to promote balanced regional economic growth, encourage investment, and expand employment opportunities across the country. (Ministry of Foreign Affairs)

The initiative will see new industries established across several regional industrial estates, supporting manufacturing, value addition and entrepreneurship while improving economic prospects in the provinces. The investment is also expected to stimulate local supply chains, attract private sector participation and contribute to Sri Lanka’s export-oriented industrial ambitions.

The approval comes as the Government continues to prioritise industrialisation as a key pillar of economic recovery. Recent policy measures have focused on creating a more competitive investment environment, improving industrial infrastructure and encouraging domestic and foreign investors to establish operations outside major urban centres. (Ministry of Foreign Affairs)

Officials believe the projects will not only create direct employment but also generate indirect opportunities for suppliers, service providers and small and medium-sized enterprises operating around the industrial zones. By expanding industrial capacity in the regions, the Government aims to reduce regional disparities, strengthen local economies and enhance Sri Lanka’s long-term manufacturing competitiveness.

The Cabinet decision represents another step towards achieving sustainable industrial development while supporting inclusive economic growth through increased investment, innovation and job creation across the country. (Ministry of Mass Media – Sri Lanka)