Sri Lanka invites Japanese investment in textile sector

25 Aug '14

2 min read

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