Sri Lanka’s EPZs see 90 percent of factories recommencing operations
Sri Lanka’s Board of Investment (BOI) has reportedly stated that around 90 percent of BOI approved factories within the 12 Export Processing Zones (EPZs) in the country have recommenced operations by early this week with an estimated 50 percent employee turnout.
“Most of the factories began operations even during the lockdown, but as of yesterday 90% of the total factories within the BOI zones were operational with 50% of its employees reporting to work,” BOI Director General Sanjaya Mohottala has told Sri Lanka’s English daily newspaper, the Daily FT.
According to him, most of these factories were working close to its full capacity, while some were operating on late shifts keeping in line with the guidelines issued by the health authorities.
Mohottala has further stated that the key challenge during the lockdown period was to reopen factories, resolve operational issues of the BOI approved factories as well as to explore new opportunities.
It was also noted that spot-checks by Public Health Inspectors (PHIs) associated with the zones will be carried out on a regular basis.
There are total of 244 factories employing 46,230 in the 12 EPZs located island wide.
Sri Lanka’s export manufacturing sector has recommenced operations and is now in the process of getting its supplies to the markets. Sri Lanka’s geographical positioning in the Indian Ocean and the many trade agreements as well as trade concessions enjoyed by the country made its export manufacturing sector one of the most competitive players in the global market. Sri Lanka is once again back on track to maintain its top slot. Therefore, foreign businesses/investors could explore opportunities in investing/forming partnerships with local manufacturing businesses to expand operations and grab the new emerging opportunities in the international market.
|Article Code :||VBS/AT/20052020/Z_7|