Sri Lanka’s investment authority expedites work on fabric park in Eastern Province
Sri Lanka’s Board of Investment (BOI) has reportedly taken measures to expedite the setting up of a proposed fabric park in the country’s Eastern Province.
BOI Director General Sanjaya Mohottala has been quoted in the local media as saying that the Board has expedited the work in setting up the proposed fabric park in Eravur to manufacture raw material needed for the apparel industry going forward.
“We have already had discussions with potential investors from several countries and received favourable responses,” Mohottala has said.
The fabric park is expected to produce both artificial and natural textile needed for the apparel industry.
OSL take:
The government of Sri Lanka is exploring the setting up of a fabric park in the country’s eastern province to meet the local and international markets. Sri Lanka’s geographical positioning in the Indian Ocean, the ease of doing business environment in the country and the many trade agreements as well as trade concessions enjoyed by the country makes it the ideal manufacturing/exporting destination to the international markets. Foreign businesses/investors could therefore explore business/investment opportunities in the proposed fabric park given the business potential of the endeavour.
| Article Code : | VBS/AT/20200601/Z_2 |