"Gamata Karmantha" Project is implemented by this Ministry under the 300 Industries Programme to cater local industrialists who are willing to invest in regional level. This programme was introduced 2006 Budget in line with "Mahinda Chinthana" with the objective of creating more employment in rural areas and overcoming the concentration of industries in Colombo and Gampaha districts.
Under this programme, Ministry facilitates local industrialists to set up industries in the regions. The concessions of Custom duty and VAT exemption for plant and machinery imports, Tax holiday of 5 - 10 years based on the location and the investment, Interest income on loans from lending institution to be exempted from income tax and the project period was extended till 01st of April 2009 by the 2008 Budget. Accordingly, industrialists who set up industries out of Colombo and Gampaha districts with a minimum basic requirement of Rs. 30 mn investment and 200 employment opportunities before 01st of April 2009 and the industries relocate from Colombo and Gampaha to other districts will also be eligible for the tax relief. Subsequently a policy decision has been made by the Government to extend the project period by one more year up to 31st March 2010.
Ministry has given approval for 132 industries under "Gamata Karmantha" Project out of 46 industries are under commercial operation, 12 industries started their construction works, 04 industries started installation of machinery and 17 industries initiated their preliminary works.