Korea’s Salus Safety Robotics set to establish benchmark in glove manufacturing in Sri Lanka
Daily FT: In a strategic move aligned with their mission to attract cutting-edge digital and technology-driven Foreign Direct Investment (FDI), the Board of Investment (BOI) has unveiled its latest collaboration with Salus Safety Robotics Ltd., a subsidiary of South Korean power house Salus Safety Inc.
With a robust three-decade legacy in the industry, Salus Safety Inc. brings a wealth of experience to this pioneering endeavor. Through collaborative efforts with local experts, this venture aims to introduce state-of-the-art technologies that redefine conventional manufacturing processes.
By delivering cutting-edge machinery and high-quality gloves that meet international standards, Salus Safety Robotics is set to establish a new standard of excellence in glove manufacturing.
Building on the core competencies of its parent company, Salus Safety Inc., which boasts a sterling reputation for precision manufacturing and innovation, the venture promises to be a game-changer in the industry. This innovative partnership not only leverages global expertise but also harnesses the strength of the local workforce, contributing significantly to the growth of the Sri Lankan economy.
The advanced technological ecosystem fostered by the company promises to provide valuable learning opportunities for Sri Lankan employees. This initiative comes at a pivotal time, as it bolsters the rubber sector’s manufacturing capabilities in the midst of the industry 4.0 revolution.
Salus Safety Robotics Ltd., has already solidified its presence in Pakistan and is poised to extend its offerings to Southeast Asian countries and the European market.
OSL take:
Sri Lanka is currently focused on attracting digital and technology driven foreign investments into the country in line with the ongoing economic expansion activities. With Sri Lanka working towards becoming an emerging business destination in the South Asian region, there is an increase in business/investment opportunities in the ICT and digital infrastructure development sectors. The government of Sri Lanka had already initiated many programmers to promote digitalization of key sectors in the country in order transform it into an e-economy. Therefore, there’s an increasing need for digitalization in all key Evo sectors. The growth and profits recorded by businesses already engaged in the ICT and digital infrastructure development sectors in Sri Lanka is indicative of the growth and business potential of these two sectors. Foreign businesses/investors could therefore confidently explore the expanding business/investment opportunities in Sri Lanka’s ICT and digital infrastructure development sectors while also looking at forming partnerships or joint ventures with local businesses in these sectors with the aim of expansion.
| Article Code : | VBS/AT/20231026/Z_1 |