July 10, Colombo: Sri Lanka's Board of Investment (BOI) plans to open a branch office in the Jaffna Peninsula to support the development efforts in the Northern Province.

BOI said yesterday that along with the Government Agent of Jaffna it has identified potential land for various development projects in the peninsula. The presence of a BOI office in Jaffna will enhance and help to expedite the development plan envisaged by the BOI, it said.

The BOI has discussed with investors a scheme to develop private schools, particularly a Medical College and Universities and Hospitals. Also BOI will promote agricultural projects and Fisheries Projects. The discussions were carried out by BOI with the government officials and found that in most of areas ground water is available and could be immediately utilized for housing complexes and other projects, a statement issued by the BOI pointed out.

BOI said it would encourage the Tamil Diaspora to invest in Jaffna particularly in real estate development and the construction of apartments, housing complexes which could be used by them as their second home. It was found that infrastructure was required for future development.

The BOI will develop linkages with other Ministries, Departments, and Authorities who are providing water, electricity, and roads to expedite the provision in infrastructure for the future development. In addition the BOI will explore possibilities of joint ventures particularly in the Peninsula to enhance its infrastructure facilities. The establishing of an office in Jaffna will definitely help to meet these requirements expeditiously, BOI highlighted.