Sri Lanka Colombo-Trinco economic corridor study by ADB

ECONOMYNEXT – The Asian Development Bank (ADB) is studying the possibility of creating an ‘economic corridor’ between Sri Lanka’s capital Colombo and eastern Trincomalee, a senior official said.

“Transport infrastructure is important for connectivity, to send exports out and so that people and products can move very easily from one place to another,” said Wencai Zhang, Vice President (Operations 1) of the Asian Development Bank who is on a three-day visit to the island.

“We are doing an economic corridor study – looking for a way to develop an economic corridor from Colombo to Trincomalee – going from west to east,” he told a news conference.
“We need to ensure the transport corridor becomes a trade corridor and finally becomes an economic corridor,” he said.

The study will at developing industrial clusters and required infrastructure, such as an expressway, along the corridor, and also see how to support clusters of urban cities along the corridor, Zhang said.

He said the government wants to set up 14 export processing zones in different parts of the country and it was important to ensure these zones are well connected so that exports can be shipped out easily.

“I visited the Kandy EPZ and saw its potential but how do its exports reach Colombo port?”
Better transport infrastructure will also attract more tourists, Zhang said. 
(COLOMBO, July 08, 2016)

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