Sri Lanka will set up a pharmaceutical manufacturing zone in Hambantota, the state information office stated.

The Presidential Task Force for the economic revival and eradication of poverty identified the pharmaceutical manufacturing industry as a sector that could attract Foreign Direct Investments as well as a field that possess a potential for earning foreign exchange.

Hence, it has been planned to establish a special pharmaceutical manufacturing zone with modern facilities within an extent of 400 acres of the Arabokka estate in Hambantota.

Declaring it as a strategic development project, it is expected to provide additional relief and encouragement for  investors to step forward and invest in this pharmaceutical manufacturing zone.

Accordingly, the cabinet has approved the resolution submitted by the Minister of Health for the establishment of 20 pharmaceutical manufacturing companies within 200 acres as the first phase of this project and a further 20 pharmaceutical manufacturing companies within 200 more acres as the second phase of this project. The Sri Lanka Board of Investment (BOI) will furnish necessary infrastructure facilities for the project.