Sri Lanka’s EPZs working at full capacity following successful Covid 19 vaccination drive
Sri Lanka’s Board of Investment (BOI) has reportedly witnessed a sharp increase in total employee attendance in all 14 export processing zones (EPZs) in the country by up to 80% as of July due to the successful Covid 19 vaccination programme.
Supplementing this, the vaccination drive has also been extended to reach adjacent ecosystems, such as supply chain facilities that EPZs depend on, providing additional muscle for the business continuity of manufacturing entities in the EPZs, according to local media reports.
All manufacturing facilities operating in the zones are now fully functional as of July 2021 and are catering to the demands placed by international customers through their respective order books, reports have said.
BOI Chairman Sanjaya Mohottala has been quoted as saying, “As 85% of Sri Lanka’s national industrial exports are derived from BOI enterprises, we consider it our responsibility and privilege to ensure that all facilities falling under our purview are able to operate seamlessly without hindrance. Ensuring the safety of employees of these facilities is our number one priority, and we are deeply encouraged by the sharp increase in attendance as a result of the vaccination drive implemented recently.”
“We are also extremely grateful and appreciative of the encouraging efforts made by all stakeholders in this regard, especially the COVID Task Force under the leadership of President Rajapaksa, Minister of Sports, Youth and Digital Technology and Enterprise Development State Minister Namal Rajapaksa, the Ministry of Health, and the Armed Forces, without whose guidance and support this vaccination drive would not have been a possibility,” Mohottala has added.
OSL take:
Sri Lanka’s manufacturing and exports sectors have shown a growth momentum despite challenges posed by the global Covid 19 pandemic. The country’s economy has shown great resilience to external and internal challenges through the years and is once again on the path to recovery after facing the impact of the pandemic. The country’s EPZs continued operations through the lockdown periods and have shown an impressive growth. All this has expanded the business/investment opportunities in Sri Lanka’s manufacturing and exports sectors. Foreign businesses/investors could therefore explore business/investment opportunities in the country. Also, Sri Lanka is becoming a business hub in the South Asian region given it’s geographical positioning in the Indian ocean and the many trade agreements as well as trade concessions enjoyed by the country have further placed the island as a potential business destination.
| Article Code : | VBS/AT/04082021/Z_2 |