BOI gets green light for pilot project to cultivate cannabis
Posted on May 26th, 2023
Courtesy The Daily Mirror
The Board of Investment of Sri Lanka has received the approval from an expert committee to embark on a pilot project to cultivate cannabis within a BOI zone.
This was revealed by Investment Promotion State Minister Dilum Amunugama during a media briefing at the BOI headquarters.
The pilot project is to kick-off soon in the Katunayake zone and discussions are underway with investors and experts to finalise the pilot project.
“We have been authorised as the experts committee report is out. It’s a ‘Yes’. We have got the instructions to go ahead with the pilot project,” said Dilum Amunugama.
“The investors who are interested in the project will have to grow the cannabis and manufacture a product out of it, which will be the income for the country,” he stated.
The State Minister proceeded to say that the Cabinet would have to be briefed as to how the project is to be implemented.
Meanwhile, he said the BOI has been able to attract investments worth USD 604 million during the period from January to May in 2023, with 22 new projects and six expansions.