Sri Lanka’s Global Ceylon SeaFoods to set up $ 7.5 million sea cage farming project for export market.
The Morning: Global Ceylon SeaFoods (Pvt.) Ltd., a seafood exporting company in Sri Lanka, is to set up a sea cage farming project for the export market in Trincomalee, for an investment of $ 7.5 million.
Speaking at the occasion, State Minister Dilum Amunugama said: “This marks the first agreement to be signed with the Investor Facilitation Centre (IFC), which was set up to expedite and streamline the investment approval process while strengthening the co-ordination with respective line ministries.”
Accordingly, an agreement in this regard was signed in the presence of Investment Promotion State Minister Dilum Amunugama, Board of Investment (BOI) Chairman Raja Edirisuriya, BOI Director General Renuka M. Weerakone, and Global Ceylon SeaFoods Director, Per Marius Arntsen at the newly unveiled IFC recently.
The newly signed project is to generate nearly 100 employment opportunities.
Global Sea Foods (Pvt.) Ltd., known simply as GSF is a seafood processing company based in Sri Lanka. The company is a BOI-approved venture established in 1999, that supplies high-quality, value-added seafood products to destinations such as Europe, the US, the Middle East, and Japan to name a few. GSF can be identified as a source of foreign exchange income earner in Sri Lanka.
OSL take:
Sri Lanka’s fisheries industry is full of business/investment opportunities with businesses engaged in the seafood export market recording a growth and impressive profits. The many trade agreements and trade concessions enjoyed by the country have also helped boost Sri Lanka’s fisheries export market. Local authorities have also lent assistance as well as incentives to further woo investments to the local fisheries exports market. There is also a growing demand in the fisheries sector in the local market. Hence, there is an overall expansion in business/investment opportunities in Sri Lanka’s fisheries industry – aimed at local and foreign markets. The investments being made by businesses in Sri Lanka’s fisheries industry to further expand operations is indicative of the growing business potential in the industry. Foreign businesses/investors could therefore explore the expanding opportunities in Sri Lanka’s fisheries industry in both segments – local and foreign markets.
| Article Code : | VBS/AT/10112022/AT_1 |