BOI to set up hosiery manufacturing facility at Ratnapura

15 Dec '08

4 min read

An agreement set up a software development venture for foreign clients was signed with CAM Management Solutions (Private) Limited. The venture develops product based software for Strategic Planning and Management Solutions for local governments in Australia, New Zealand and UK. The investment of US $ 150,000 is sponsored by C A Technology, Australia. The software development company is expected to generate employment for 20 professionals. Mr. Omar Fareed, Chairman of CAM Management Solutions (Private) Limited signed the agreement on behalf of the Company. Mr. Brian Walter, Country Manager was also present at the occasion.

H Y Vital Export (Private) Limited signed an agreement to manufacture pallets out of fabric off cuts for export. The joint venture between Malaysian and Sri Lankan investors is an investment of US $ 600,000. The manufacturing plant located at Pannala will generate 50 employment opportunities. The venture will collect fabric off cuts from various garment factories. The pallets manufactured out off fabric off cuts will be exported to China. The manufactured pallets are used to produce yarn. Commercial operations of this unique venture will commence immediately. On behalf of H Y Vital Export (Private) Limited Mr. Tan Yew Pin, Chairman, and Mr. K. Chandana De Silva, Managing Director signed the agreement.

The BOI also signed agreements for two new Business Process Outsourcing ventures. Acumen Services (Private) Limited signed an agreement to set up a BPO centre to provide Financial Services. The venture is an investment of US $ 150,000 sponsored by Acumen Limited, Bermuda. This will provide employment for 20 Professionals and will be located in Colombo. The other BPO centres which will be provide Accounting Services. is sponsored by Horses Insurance Holding Limited, Bermuda. The US $ 150,000 venture will provide employment for 20 professionals in the accounting sector.

Board of Investment of Sri Lanka