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Investors eager to venture in apparel sector
Feb '11
Nine investors eager for establishing apparel units in the Northern and Eastern regions of Sri Lanka have forwarded their applications in this regard to the Sri Lankan Board of Investment.

Establishment of these units is expected to bring about 9,000 new jobs in the region. But then, these investors are still awaiting the government's sanction to start their projects, once the land allocation and infrastructure development issues get sorted out.

The information was publicized during a press meet organized to announce the launch of a regional road show for the apparel industry for country wide awareness generation and employment drive.

The State government along with the apparel industry would survey the possibilities of adding countries like India, China, Japan, Canada and Brazil to the list of countries importing Sri Lankan apparels, while maintaining the US and the EU, which presently serve as the key export markets of the apparels from Sri Lanka.

Additional Secretary of the Industry and Commerce Ministry, H M R B Herath, revealed that the concerned authorities in the country have already concluded the initial talks on the prospects of exporting Sri Lanka's garments to Japan.

Further, a Joint Apparel Association Forum (JAAF) official even revealed that, as some of the issues cropping up in the Chinese and Egyptian markets have raised the prospects for the Sri Lankan apparel sector, and the domestic investors are highly positive about the probable development of the country's apparel sector in times to come.

Fibre2fashion News Desk - India

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