The Sri Lankan government’s cannabis investment plan is gaining momentum, with 30 parties expressing interest in the initiative. State Minister of Investment Promotion, Dilum Amunugama, revealed during a recent media briefing that these applications are currently under review by a committee that includes officials from the Ayurvedic Department and the Ministry of Investment Promotion.
“We have received 30 applications so far [for the cannabis investment plan]. They are being processed by a committee in which all Ayurvedic Department and Ministry of Investment Promotion officials are present. No one has come up to the growing stage yet, but land allocations are being done. In future, they will come to the stage of growing,” Amunugama explained.
The projects will be situated in Mirigama and Kandy, where the government plans to establish facilities for cannabis cultivation and production. According to the State Minister, the minimum value addition expected from these projects is 3BD extraction or oil extraction, with the potential for producing final cannabis-based products on-site.
In addition to the cannabis investment plan, Amunugama also provided updates on the Kappalthurai Industrial Zone in Trincomalee, Sri Lanka’s second industrial zone. The zone is strategically connected to key infrastructure such as ports, railways, and airways, making it an attractive destination for heavy industries. The government expects to attract an investment of between USD 1 billion and USD 1.5 billion to the Kappalthurai Zone.
“The only thing is that we don’t have necessary funds to activate the whole project at once, so gradually part by part, they will be engaged,” Amunugama noted. He emphasized that the zone will be connected to all three modes of transportation—sea, air, and railway cargo—positioning it as a prime location for industrial development in the region.
This dual focus on cannabis production and industrial development reflects the government’s broader strategy to attract foreign investment and boost the economy through innovative and strategically located projects.
