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Leading News from Sri Lanka ::
Nov 17, Colombo: The United States Agency for International Development (USAID) yesterday released a report on a study conduct by the agency to assess the growth opportunities for the private sector in Sri Lanka's East.
A press release issued by the US Embassy in Colombo said the USAID supported the study of six industry sectors including Dairy, Horticulture, Fisheries, Aquaculture, Tourism, and Logistics to identify growth opportunities.
The USAID released the recommendations of the assessments conducted by the local and international experts in the specific industries to key stakeholders in the government, private sector, and other industries highlighting the ways the government action can strengthen private sector activity.
According to the study, although the Eastern Province has the largest herds of cows in the country, the milk production has been limited and unproductive in the past due to the prolonged conflict.
The assessment has shown that with right aids and methods the productivity in the diary sector can be increased significantly.
Another area the study focused was tourism industry in the East. The Eastern coast in particular has the potential to absorb many new investments with the right mix of tourism products and development planning, the USAID report pointed out.
The USAID showed that the Eastern Province has the opportunity to grow crops like cashew for the domestic and export market and the region can be a preferred source for tropical fruits and other fresh produce to neighboring markets.
In the Fisheries sector the report said less than 7% of the present fish catch in Sri Lanka is exported and with new technologies the region has a tremendous potential to create income and employment opportunities in fishing industry.
The agency said the full reports and summaries of the six assessments will soon be available on its website at www.core.lk/downloads.
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