Home / Knowledge / News / Textiles / Sri Lanka invites Japanese investment in textile sector
Sri Lanka invites Japanese investment in textile sector
25
Aug '14
Mr. Rajapaksa (L) with Mr. Suki
Mr. Rajapaksa (L) with Mr. Suki
The Government of Sri Lanka has invited Japanese investment for production of raw materials used in the apparel industry.
 
Recently, a delegation of Japanese entrepreneurs led by Mr. Thadai Suki, chairman of Japan Sri Lanka Business Committee, met Mr. Basil Rajapaksa, Sri Lanka’s Minister of Economic Development to discuss Japanese investments in Sri Lanka, according to an official statement.
 
Mr. Rajapaksa said Japan has made major scale investments in Sri Lanka, which has enabled a large number of Sri Lankans to be employed in Japanese factories in Sri Lanka, earning a large amount of foreign exchange for the country.
 
He said the apparel industry has reached highest proportions in Sri Lanka and apparels of highest quality are now being produced in Sri Lanka. However, 90 percent of the raw materials required by the apparel industry is imported, he added.
 
In this context, Mr. Rajapaksa said that factories for production of raw materials required for the production of apparels be started in Sri Lanka with Japanese investments. “Since our labor resources are knowledgeable, efficient and friendly, it will be easy to achieve productions of higher quality,” he said.
 
The Minister further stated that the Government is ready to provide requisite facilities and assistance for the production of apparels.
 
Mr. Thadai Suki said he was very much pleased with the development achieved by Sri Lanka. He added that Japanese investors will be able to dispatch their production to reach their anticipated destinations with little cost, thanks to the improved transport facilities including super highways.
 

Fibre2fashion News Desk - India


Must ReadView All

Courtesy: Pexels

Textiles | On 17th Jul 2018

Trade wars could depress medium-term growth prospects: IMF

The recently announced and anticipated tariff increases by the US and ...

Courtesy: Mat Brown from Pexels

Textiles | On 17th Jul 2018

India increases import duties on textiles & apparel

The Government of India has increased basic customs duty on several...

Luis Quijano

Textiles | On 17th Jul 2018

US varsity student cultivates bacterial cellulose in lab

Luis Quijano, a student at the Liberty University in Lynchburg,...

Interviews View All

Janak Dhamanwala & Sunil Dhamanwala
Jansun

Moving towards sustainability is also a social change

Shiladitya K Joshi
Truetzschler India Private Limited

India ITME provides a platform to interact with our stakeholders

Saket Garg
Garg Corporation

The biggest challenge is lack of skilled workforce and competition from...

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Harsh Shah

Established in 1956 with a small beginning, Embee today manufactures a...

Anupam Arya

<div>Jaipur-based Fabriclore Retailing Pvt. Ltd. is attempting to revive...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Mark Paterson
Technical Absorbents Ltd

Mark Paterson, R&D manager of Technical Absorbents Ltd talks about Super...

Mohammad Hassan
Biax Fiberfilm

About one in every 20 patients picks up an infection while hospitalised....

Amiben Shroff
Shrujan

From its modest beginning in the late 1960s, Shrujan has grown into a...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sonam & Paras Modi
SVA

Sonam and Paras Modi's Sva Couture is synonymous with head-turning...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search