Sri Lankan government looking to set up second canned fish factory in Hambantota
The government of Sri Lanka says that investors have expressed interest to commence work on the second canned fish factory in Hambantota, the local media has reported.
The observation was made by former Minister of Fisheries and Aquatic Resources Development Mahinda Amaraweera referring to the project pipeline in the fisheries sector.
According to reports, the major part of the fish products imported to the country is canned fish representing 28 percent of the total import of fish products.
During 2016, 26,845 metric tons of canned fish valued at Rs.7,196 million had been imported while it was Rs.7,130 million worth 30,638 metric tons in 2017, Amaraweera has told the media.
Accordingly, Linna fish is to be used for canning locally since Herrings, Haddock and Mackerel mostly used for canning in other countries, are not found in the seas around the island.
The Fisheries Ministry has predicted good revenue from the canned fish industry leading to a reduction in the drain of foreign exchange from the country.
OSL take:
The Sri Lankan government’s plan to start work on a second canned fish factory in the country’s southern city of Hambantota indicates the growth in the fisheries sector. Sri Lanka has recorded an increase in revenue from fish exports. Given that Sri Lanka is an island surrounded by the Indian Ocean and posses a good supply of water resources within the country, the fisheries sector could be developed into a booming industry that generates an impressive revenue. Therefore, foreign businesses/investors could look at opportunities to engage in Sri Lanka’s fisheries sector.
| Article Code : | VBS/AT/03052018/Z_4 |