The Board of Investment of Sri Lanka (BOI) organized a dedicated investment forum to present structured business opportunities in Keragala, Gampaha District (Western Province), and Sooriyawewa, Southern Province, positioning them as emerging University Towns.
The event brought together local and foreign investors, senior officials from the BOI, and the Ministry of Higher Education to explore prospects in Sri Lanka’s education sector, leveraging the country’s strong literacy rates and ongoing reforms.
BOI Chairman Arjuna highlighted the strategic advantages of the two proposed University Towns, noting Gampaha’s status as Sri Lanka’s largest student hub with proximity to industrial zones, and Sooriyawewa’s established infrastructure and entrepreneurial culture.
Detailed business cases were presented, with Keragala envisioned as a 125-acre campus hosting five universities, requiring USD 370 million in investment with an IRR of 15–18% and a payback period of 6–7 years.
Sooriyawewa’s 250-acre integrated university town is projected to attract USD 640 million, offering R&D centres, innovation hubs, and international-standard living facilities, with an IRR of 16–17% and a payback period of 7–8 years.
BOI Director General Renuka M. Weerakone emphasized that higher education is increasingly recognized as a global economic driver, and Sri Lanka is positioning itself to be part of this transformation.
The proposals were well received, with investors showing strong interest in shareholding structures, incentives, and fiscal concessions, while stressing the importance of swift implementation of education reforms. (Newswire)