Steps mooted to expand Sri Lankan Garment industry

01 Apr '06

2 min read

The 13th Annual General Meeting of Sri Lanka Garment Buying offices Association (SLGBOA) was held recently.

Sri Lanka Garment Industry determined that they have to open up and compete to survive and prosper as an industry in the world market which brings the highest foreign exchange into the country.

All efforts have to be pooled in to attract major buyers to establish their enterprises here to make Sri Lanka a hub for South Asian production.

Prof Lakshman R Watawala, Chairman Board of Investment (BOI) Chief Guest at the AGM said that, to face strong competition from emerging markets such as India and China, the industry needs to elevate itself.

Garment industry which had 43 factories in 1991, has around 463 today becoming the biggest export industry in Sri Lanka which at present is a $3 billion industry.

He said Government is seriously considering reducing manufacturing time to execute orders.

Large textile mills closed down earlier would be revived to manufacture textile garments in export promotion zones.

Watawala said that these textile-manufacturing factories can be operated by BOI as well as private sector and these private investors would get tax benefits of 15 years.

Another factor to reduce production cost would be to employ modern technology and upgradation of the skills of the employees, he said.

Romesh Fernando, Deputy Chairman, SLGBOA said they need to improve production capacities, means of increasing apparel labor force, embracing technology, promoting grant of fiscal incentives and grooming a breed of aggressive, professional marketers to achieve the objective.