Sri Lanka was to save over Rs. 1.5 billion so far through the manufacture of saline locally, said Director General of Board of Investment, Renuka M. Weerakoon.
She made this observation at a visit to the BOI Zone in Pallekele with State Minister of Investment Promotion Dilum Amunugama to discuss issues faced by investors in the Pallekele Export Processing zone.
She said due to local manufacturing 40% of the country’s saline needs are already being met by the Pharmaceutical Manufacturing Agency currently operating in the zone and the BOI is also working to increase foreign direct investment and increase export income, as well as paying more attention to the production of products imported into Sri Lanka by spending foreign exchange.
Meanwhile State Minister Amunugama said that the severe economic crisis around the world is also having a major impact on the manufacturing and export industries of this country. “Despite these issues the ministry will implement all necessary interventions to protect these industries.”
The Minister said that in a bid to cushion out the global impacts for local industries the government is preparing a short, medium and long term program to face this global economic crisis.
He emphasized that the laws, ordinances and regulations of government institutions should be changed in the face of the current crisis and since this is not a normal situation, the laws and ordinances should act outside of their frameworks. He also emphasized that more attention and assistance should be paid to the investments that actually bring foreign exchange into the country.
There are 24 industries operating in the Pallekele Export Processing Zone providing more than 10,000 employment opportunities.
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