Sri Lanka’s Hambantota Port industrial zone to manufacture home appliances
Sri Lanka’s Hambantota International Port Group (HIPG) has reportedly accelerated the progress of its industrial park by combining its latest concept ‘HIPG Speed’ into the port’s Standard Operating Procedures (SOP).
HIP with its partner Shenzhen Xinji Group with whom it recently signed an agreement will introduce the ‘plug and play’ concept soon and ‘HIPG Speed’ will play a vital part in its progress, according to local media reports.
Xinji Group Chairman Yang Lin has been quoted as saying, “Our modern standardised factory set up will be ready to roll out the production of home appliances within a span of 12 months. The concept is to act as an incubator to support more enterprises, who will have a simplified entry into the Hambantota Industrial Park.”
According to reports, with a view to fast tracking the project’s progress, Port Investment Services has extended investor support services in tandem with the relevant Government departments to better facilitate Xinji. “This approach on our ‘ease of doing business’ at HIPG can assist any project investment to push through during a pandemic or normal times.”
“HIPG Speed is a concept which ensures that we facilitate our customers with optimum support, clearing the path for them to start operations, which includes cutting through red tape, construction bottlenecks, logistics support, on-site explorations, equipment preparation, training, etc. In the case of the Xinji project, we took only 20 days from completion of the project signing to commence the site construction,” HIPG Senior General Manager – Port Investment Services, Legal and Corporate Affairs Tim Xiao has been quoted as saying in the local media.
Once complete, the Xinji ‘Electronic Processing Park’ will be the platform for them to independently carry out production and trading of household appliances as well as provide ‘one-stop service’ facilities for upstream and downstream supporting enterprises in the park, while continuing to strengthen their cooperation with HIPG in multiple business verticals, media reports have stated.
“We are on the verge of entering a new stage in port development through our industrial park located within the perimeters of HIP. Whilst our port operation on the water’s edge is rapidly moving towards completion, which will soon make HIP a multi-purpose port, we are now creating a streamlined industrial park that will complement our sophisticated port operations. This will open doors of opportunity for Sri Lanka, firstly, across South Asia and then to the world at large,” HIPG CEO Johnson Liu has added.
OSL take:
The industrial zone in the Hambantota Port premises in Sri Lanka’s southern province is fast attracting foreign businesses/investors. The convenient logistics as well as the many trade agreements as well as trade concessions enjoyed by the country have further boosted Sri Lanka’s attraction as a lucrative opportunity in the manufacturing and exports sectors. Sri Lanka’s geographical positioning in the Indian ocean and it’s strong trade ties have helped the growth of the country’s manufacturing and exports sectors. Foreign businesses/investors could therefore confidently explore the growing business/investment opportunities in Sri Lanka.
| Article Code : | VBS/AT/20210713/Z_1 |