ICSFDC News Alerts

Sri Lanka: Allocate Rs.200 million for the development of fisheries farm zones, with infrastructure facilities November 20,2020   |  Source: Daily Mirror Online

The Export Development Board (EDB) is pleased to see an export-focused budget, which will support strong export growth, led by investment, value addition and maximising our Sri Lankan natural resources. This is a pivotal change in Sri Lanka’s growth strategy, which will be led by the exporters. For the next five years, agri, livestock and fisheries sectors to be income tax free.

Expectation/impact on exports: Increase investments and create business opportunities while focusing on a more dynamic business ecosystem. Simplify the administrative process for the exportation of most sought-after fish and aquatic plants, to develop tissue culture methods, to increase the availability of fish feed and to increase airport and cargo/freight facilities for exports.

Proposal: Allocate Rs.200 million for the development of Fisheries Farm Zones, with infrastructure facilities, in line with the environmental standards in the Batticaloa, Jaffna, Puttlam and Mannar districts, which are suitable for fish production such as prawns, lobster, carp, tilapia and modha.

Expectation/impact on exports: Increase in exports of fisheries products.

Boat and shipbuilding: Proposal: Provision of separate docks, dockyard access facilities and long-term credit facilities along with a tax break

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Years in Support of Small Scale Fishworkers (1986 - 2018)