Sri Lanka notes possible business opportunities in the boat industry in South Africa
Sri Lanka’s State Ministry of Warehouse Facilities, Container Yards, Port Supply Facilities, Boats, and Shipping Industry Development and Sri Lanka’s High Commission in Pretoria have reportedly organised an informative webinar recently to identify the possible business opportunities for Sri Lanka’s boat industry, especially in the fisheries sectors of Mozambique and Namibia.
A considerable number of fisheries products of Mozambique and Namibia are exported to the European and Asian markets.
Sri Lanka’s High Commissioner Amarasekara has noted the opportunities available in these two markets and the movement of the international investment grants to the fishing industry focusing on community development.
According to the Daily FT, the unsaturated harvesting capacity of the Indian and Atlantic Oceans encourages new investments/businesses to enter into these markets. Small and medium level entrepreneurs of the above two countries may be encouraged to venture into the fishing industry by introducing vessels of appropriate size and designs, for which, Sri Lankan boat manufacturing companies have the capacity.
Sri Lanka’s State Ministry Secretary, Dammika Mataraarachchi has noted the necessity of penetrating this market by advanced business models going beyond the traditional export business and promotes the high caliber of boating technology similar to the European and Japanese industries.
OSL take:
The exploring of opportunities for Sri Lanka’s boat industry in the African continent is indicative of the strength, growth and business potential in the island’s boat industry. Sri Lanka’s manufacturing sector has recorded a steady growth even amidst the Covid 19 pandemic. Sri Lanka is now looking at expanding its businesses to other countries thereby creating openings for foreign businesses/investors to explore business/investment opportunities in Sri Lanka’s boat industry, especially in its overseas expansion programme.
| Article Code : | VBS/AT/07102021/Z_3 |