Sri Lanka to build yachts
• EDB mulling new projects with boat, yacht building.
• Export Development Board Chairman Indira Malwatte said they are currently looking into new industries like boat and yacht building.
• She said this project has been undertaken by three to four companies in an attempt to expand.
• The marine infrastructure will be announced in the next two to three weeks.
• SL government is currently working with a United Kingdom National Outsourcing Association and will be coming up with a major project in the IT and BPO sector by September.
• The EDB is looking into developing the pharmaceuticals and spices industries.
• There have been certain difficulties in deep water maintenance, however with the ETCA coming in, we will be able to attract the necessary skills set for these.
Speaking at the recently launched ‘The Report: Sri Lanka 2016’ by Oxford Business Group (OBG) Malwatte said the development of the marina by the Ports Authority and Board of Investment (BOI) will be focusing on the servicing boats and yachts which has not been available in the country.
“There have been certain difficulties in deep water maintenance, however with the ETCA coming in, we will be able to attract the necessary skills set for these.
We are also looking at the military officers who have retired after their 20 year period of service.
These officials too may have the skills required in this project. The marine infrastructure will be announced in the next two to three weeks,”she said.
She further said that they have been working with a United Kingdom National Outsourcing Association and will be coming up with a major project in the IT and BPO sector by September.
She said that Sri Lanka even at present is connected to major international bodies in this sector and will continue to work on improving the sector.
Malwatte also mentioned that they are looking into developing the pharmaceuticals industry and the spices industry.
She said that there should be further value addition into the export industry and it would be beneficial to divert it towards the market for food ingredients.
OSL Take:
Board of Investment Chairman Upul Jayasuriya said though the country has enough potential, the reality is that it lacks certain skills.
He stated that the mindset of the country should be changed so that the youth would be more partial to working in private organizations.
In the BOI alone there are around 25,000 vacancies in the country.
Unfortunately, there have been instances where certain companies have had to relocate in different countries as there is a dearth of labour in the island.
It was mentioned that currently Sri Lanka’s largest contributor for export earnings is the textile industry.
While it was mentioned in the report that this creates a highly vulnerable situation for the country and the topic was taken up later in a press conference organized by the OBG.
Utilization of youth in the private sector is a major task of the unity government as SOE’s rarely produce profits for the benefit of the national economy.
Also, the industrial cities proposed in the USD 44 billion Western Region Megapolis Masterplan (WRMM) need the cream of the country’s labour force to power the factories planned with FDI’s.
For more information on the latest investment opportunities proposed by the unity government under the PPP model, consult the biz-friendly OSL Team now.
| Article Code : | VBS/AT/10082016/Z-4 |