Sri Lanka’s apparel industry has attracted over 500 million U.S. dollars worth of orders for the production of personal protective equipment (PPEs), and expressed confidence the value will top the 1 billion dollar mark in the near future, the country’s state investment bureau said in a statement here Friday.
The Board of Investments (BOI), quoted in local media reports said Sri Lanka has been able to secure large orders for the production of PPEs due to the COVID-19 pandemic and a total of 33 factories were currently manufacturing these products.
“We expect more orders, which will soon surpass the 1 billion dollar mark,” BOI Director General Sanjaya Mohottala said.
According to the local Daily FT, Sri Lanka’s total export earnings for 2019 was 11.9 billion U. S. dollars, out of which US 5.7 billion dollars was generated from apparel exports.
Around 300 garment factories employ over 300,000 workers, where over one million people are engaged in garment-related industries to earn livelihoods through indirect employment, according to the report.
Sri Lanka’s main apparel markets include the U. S. and Europe.
He also noted that the BOI has expedited the work in setting up the proposed fabric park in Eravur, in eastern Sri Lanka, to manufacture raw material needed for the apparel industry going forward.
“We have already had discussions with potential investors from several countries and received favorable responses,” Mohottala added.
The fabric park will produce both artificial and natural textile needed for the apparel industry.