Boat Show Sri Lanka 2012, launching pad for future industry growth

Sanjeevi JAYASURIYA

The Boat Show Sri Lanka 2012 will be held for three days from May 18 at the BMICH in Colombo.

The show is considered as a vital platform for the local boating industry to grow and build B2B linkages.

The show will provide an opportunity for Sri Lanka to showcase capabilities and attract potential investors to the industry, Boat Building Technology Improvement Institute Managing Director Gamini B. Herath told Daily News Business.

The country’s boat manufacturing industry is progressing well with the expansion of water resources and the boom in the tourism industry.

Much development could be seen in the fisheries, leisure and pleasure sectors, he said.

The development of the boating industry could be fueled through introduction of a regulatory framework. The younger generation should be encouraged to join the industry as the expected expansion of the maritime sector will create job opportunities.

“We need to improve the existing infrastructure facilities which could boost the industry capacity. The government has identified boating sector as a thrust industry where it could reach US $ 1 billion mark in the future.

“The Boat Show 2012 will be a launching pad for the industry to move forward,” Herath said. The boat manufacturing industry performed well last year surpassing the $ 100 million mark for the first time.

“We are confident that this trend will continue and improve further this year. The demand for boats both from local and export markets are growing at present making the industry a significant player in the export sector of the country. As there is a healthy demand for work boats including boats for safety and passenger craft from export market the industry prospects are bright,” he said.

The boating industry is concentrating on regional markets including India and Pakistan where there are orders at present. As new market initiative, it will be looking at Bangladesh and Africa including Nigeria from where a few orders have already received at present.