Sri Lanka’s BOI export processing zone contributes US$ 25 million in export revenue in March 2018
The Wathupitiwela Export Processing Zone (WEPZ) of Sri Lanka’s Board of Investments (BOI) has reportedly contributed US$ 25,599,216.25 (US$ 25.6 million) in export revenue as at end of March 2018.
A statement by the BOI has stated that there are currently 17 enterprises in commercial operations at the Wathupitiwelazone involved in the manufacture of apparel, knitting, reconditioning, printing, coconut products, wind surfing kites, candles, marine foods, soya foods and electronic and electrical products.
The zone’s enterprises have a significant impact on the local economy as they provide employment to 9,689 staff. In addition the zone creates possibly three times that number of indirect employment opportunities, the statement has noted.
According to the statement, Amsafe Bridport is one of the prestigious enterprises at the Wathupitiwela EPZ who manufacture and design highly engineered textile products for safety and protection. Their portfolio includes air frame restraints and barrier solutions, cargo handling and movement systems and protection for military armed vehicles.
Global Sports Lanka Pvt. Ltd. is another pioneering company established in the WEPZ that is engaged in manufacturing kites. They produce kites with the highest quality materials using the latest technology and these products are tested according to the most stringent quality standards. These kites are distributed worldwide under industry leading brand names. A workforce of over 300 employees at Global Sports Lanka produces 20,000 kites annually.
The WEPZ is located in the Gampaha District, about 42 Km away from Colombo. It was established in 1998 on a land area of 123.17 acres of which 66.38 acres are industrial land.
OSL take:
The BOI export processing zones have continuously made significant contributions to Sri Lanka’s export earnings. Most of the export processing zones have many foreign business entities and joint ventures that have positively benefited from the trade benefits enjoyed by Sri Lanka with many foreign markets. The BOI zones also provide the required infrastructure facilities to set up businesses with ease and also provide many concessions to the foreign businesses looking at setting up base in Sri Lanka. Foreign businesses could explore the possibilities of setting up businesses in the BOI export processing zones to gain maximum benefits for their business.
| Article Code : | VBS/AT/20180726/Z_5 |