South Asian Business news and information

The organizers believe that this will be a great opportunity to attract such companies. Lanka Business Online reports:

Diyanath Rohan Jayasinghe, Chairman of the state-owned Cey-Nor Foundation which builds fishing boats, told LBO he believes the boat industry can be bigger than the island's garment industry, one of its main foreign exchange earners.

"Our labour costs are comparatively cheaper and our people are very skilled in technology. It's time we took advantage of that situation."

Organizers say fishing, tourism, exports, furniture, refrigeration, fishing gear, electronics, boat accessories, transport, alternate energy, and water sports sectors could benefit from the development of the local boat building industry.

The show, organized by the Boat Building Technology Institute (BTI) in association with the Export Development Board (EDB) will take place in Colombo from 8th to 10th June 2008.

Importers, suppliers, and manufacturers from Norway, Germany, Italy, India, Australia, Maldives, Spain and France will join the show. Already eighty percent of the display booths have been reserved by various domestic and foreign boat building companies. In 2007, Sri Lankan boat building industry earned 4085 million rupees which was 795 million in 2006.

Not only Sri Lanka but also other South Asian countries such as, Bangladesh, Maldives, India have the potential to build up a successful boat building industry. Bangladesh is a riverine country. Rivers play major role in transportation and fishing. The country has cheap man power and lots of natural resources. There is huge demand of fishing boats, and passenger carrying steamers and launches. All we need is energetic and enthusiastic entrepreneurs.

Related article:

Lanka Business Online