Sri Lanka’s President pledges well planned strategy for country’s apparel sector - Opportunity Sri Lanka
Sri Lanka’s President pledges well planned strategy for country’s apparel sector

Sri Lanka’s President pledges well planned strategy for country’s apparel sector

Sri Lanka’s President Gotabaya Rajapaksa has reportedly stated that the government of Sri Lanka is well aware of the challenges faced by the country’s apparel industry and has assured fullest support to enhancing productivity and quality.
The President has made this observation during a discussion held at the Presidential Secretariat earlier this week with representatives of the Joint Apparel Association Forum (JAAF), the President’s Media Division (PMD) has stated.
“We will follow a well-planned strategy to reach this objective,” the President has been quoted as saying.
The apparel sector in Sri Lanka is one of the leading export industries and Sri Lankan apparel has become world-renowned amongst other globally recognised apparel manufacturers.

According to the President, a large sum of foreign exchange could be earned by reviving the local apparel industry.
The government is enthusiastic to meet the targets, and this year the government expects an income of US$ 5.1 billion while the businessmen who attended the discussions had assured the President that they are committed to achieving these goals.
Many entrepreneurs had meanwhile explained the challenges before them in the industry as a result of the health guidelines imposed to curtail the COVID-19 outbreak in the country and had proposed during the discussion to look into the possibility of relaxing certain health guidelines imposed on the garment sector, as long as it does not affect the public health and safety.

The President has also paid attention to the shortage of human resources in the industry and has stressed that generating quality and secure employment opportunities could conveniently attract youths to the sector.

OSL take:

Sri Lanka’s apparel sector is one of the highest revenue generators in the country. The sector also enjoys benefits of the many trade agreements as well as trade concessions enjoyed by the country. Given Sri Lanka’s commitment to further boost the country’s apparel sector, it is fast becoming a business/investment opportunity in the island.

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Article Code : VBS/AT/20210322/Z_7

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