63. Powers of the Zones SL

to conduct studies it deems necessary to decide on the need for the creation or expansion of investment zones;

to make recommendations to the Economic

to operate and manage investment zones on behalf of the Government of Sri Lanka in accordance with the provisions of this Part and create the necessary infrastructure containing state of the art facilities for investments located therein including roads, electric power, water supply, housing and such other facilities and amenities as required and implement such concessions and exercise such powers and discharge such functions as delegated to it by the

to carry out detailed studies for the economic development projects through investment zones;

to establish and enhance the cooperation between inter agencies of every Ministry, department,

to supervise and regulate the management of investment zones;

to make recommendations to the Minister on making regulations in relation to the supervision, regulation, operation or management of the investment zones;

to cause to prepare an environmental impact assessment report in respect of any economic development projects, plans, programmes of schemes within the investment zones or special development areas;

to make recommendations to the Minister on policy matters on all aspects of declaration, approval or establishment, operation, management, supervision and regulation of investment zones declared and managed under this Part;

to ensure every investment zone maintains an environment for promoting investments thereby enhancing the employment opportunities;

to hold shares in a public-private partnership entity established for the purpose of developing and managing the designated economic development zone;

to impose or levy a charge for the services rendered by the Zones SL within the designated investment zones;

to appoint investment zone developer for each investment zone declared under this Part and to develop and manage the acquired land and different type of infrastructure thereof;

to allot land, building or site, on commercial basis in prescribed manner, to investors applied for establishing investment zones and service providers in investment zones;

to ensure infrastructure development of investment zones within specified period through monitoring of activities of its own and of economic zone developers;

to create opportunities for employment by promoting local and foreign investment including development of skilled labour force;

to encourage more efficient management and monitor programmes for implementing commitments on environment and other matters;

to purchase, take and hold any property, movable or immovable, which may become vested in it and to sell, mortgage, lease, convey, devise, assign, exchange or dispose of any such movable or immovable property;

to enter into any agreements as it deems fit with any party for the purpose of setting up the investment zones or any part or facilities within such investment zones;

to enter into lease agreements with investors approved for location within the investment zones;

to enter into sales, supply or lease or management agreements in respect of investment locations within investment zones;

to enter into agreements with other institutions or agencies to receive bulk supply, store, recoup or regenerate all utilities, including electricity, water, fuel and other energy sources and distribute to entities located within a specific investment zone, and charge for such utilities as appropriate, subject to compliance with industry accepted safety and environmental standards;

to levy and recover any fees, charges or other payments in respect of lease, rents and other facilities provided by the Zones SL within the investment zones;

to employ such officers and staff including consultants and advisors subject to such terms and conditions as the Zones SL may consider appropriate to enable it to discharge its functions under this

to invest its funds in such manner as the Zones SL may deem necessary including the opening, operation and closing of bank accounts;

to receive grants, gifts or donations whether from local or foreign sources:

to give special or general directives to any persons or entity for the purpose of discharging its objects and functions as set out above;

to establish Special Purpose Vehicles at the zone level or by amalgamating several investment zones and also exit the investment if required to the private sector;

to establish necessary social infrastructure developments including accommodation for workers within investment zones;

to appoint experts or consultants as deemed necessary, to discharge its functions prudently; and

to do any other acts as may be necessary or conducive to the attainment of the objects and discharge of functions of the Zones SL under this Part.