Nine investors await Goverment clearance:

Apparel industry launches regional road show

Indunil HEWAGE

The Board Of Investment has received nine applications from investors in the apparel sector who have shown willingness to set up factories in the Northern and Eastern parts of the country.

H M R B Herath

Around 9,000 employment opportunities are expected to be created through these factories.

However, investors are waiting for the go ahead from the Government to commence these projects after resolving land issues and infrastructure development.

This was revealed at a press conference held to announce the launch of an apparel industry regional road show for an islandwide awareness building and recruitment drive.

The Government and the Sri Lankan apparel sector will explore possibilities to export Sri Lankan apparels to Japan, India, Canada, China and Brazil in the years to come in addition to the present Sri Lanka’s major apparel export markets USA and the EU.

Initial discussions have already been made by relevant Sri Lankan authorities pertaining to the possible Sri Lankan garments exports opportunities to the Japanese market, Industry and Commerce Ministry Additional Secretary H M R B Herath said.

An official representing the Joint Apparel Association Forum (JAAF) said local investors are optimistic about the possible growth in the Sri Lankan apparel industry in years to come as some issues taking place in China and Egypt have created more opportunities for the local apparel industry.

Though the confidence level of the industry is high, there is no capacity in the apparel sector to meet increased international orders. The Sri Lankan apparel sector needs to work in full capacity to gain competitive advantage.

“The major global brands in the apparel sector also look at increasing additional production capacity in Sri Lankan garment factories,” the JAAF official said.

Officials in the apparel industry expressed satisfaction about many local apparel industry related investments taking place in Bangladesh and other countries. They said local investments in foreign countries would definitely grow the national income and total exports volume promoting the country.

“Investing in foreign countries should be looked as an opportunity rather than a threat,” they said.

The entire manufacturing capacity in the world is being contracted due to the various reasons. But the Sri Lankan apparel industry will look at ample opportunities to increase production capacity with the socio and ecological responsibilities while maximizing speed of production delivery in the face of present global scenario.

It is revealed that many closed down garment factories in the country have also been taken by major garment factories in the country and work is in full capacity now. The industry has managed to create around 400,000 employment in the various manufacturing fields in the apparel industry.