Boat building targets US $ 92 m exports
Sanjeevi JAYASURIYA
The boat building industry continues its growth momentum since 2008
and is expected to record a 15 percent growth becoming a dominant sector
in the country’s economic development. “There are good prospects for the
boat building industry and the sector has recorded $ 48 million worth
exports for the first half of this year. We will be able to achieve a 15
percent growth over last year’s export value of $ 80 million,” Boat
Building Technology Improvement Institute Managing Director Gamini B.
Herath told Daily News Business.
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Record earnings from boat building |
The industry is confident of surpassing the $100 mark by the end of
next year as export orders from India and Gulf Region continuing, The
European market is also picking up, Herath said.
The exports grew steadily from 2008 recording increase from $ 20
million to $ 54 million in 2009. Sri Lanka exports leisure boats, speed
boats, fishing boats and other vessels to Seychelles, Mauritius,
Somalia, Djibouti, India, Pakistan, Bangladesh and the Maldives. The
country focuses on expanding the existing markets in India, Pakistan,
Bangladesh, the Maldives and the UK.
Emphasizing the importance of having marina parks and boat complexes
as proper boat parks and for leisure activities for sectoral
development, Herath said Kalpitiya, Mannar and Trincomalee have been
identified as strategic locations for marinas. The feasibility studies
are in progress, he said.
These marinas will support the development of internal market and the
industry is hopeful that sufficient budget allocations will be made this
year.
The marinas could be built by the government and rent out to the
private sector, creating public private partnerships as in other
countries, Herath said.
The negotiations are taking place with an investor from China to
build the Beruwela Marina with a five to seven star hotel in waters that
is similar to Dubai hotel.
With the Sri Lanka Ports Authority developing Galle and Trincomalee
ports as tourist attractions this will supplement the boat industry
development in years to come. |
