2012’s Northern growth surpassed national rate: President

Tuesday, 6 August 2013 00:05 - - {{hitsCtrl.values.hits}}

Making Colombo and H’tota free-ports a boost for our exports: Rishad
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In 2012, the Northern Province grew beyond the national growth rate. And Northern apparels have entered the global export map. “The Northern Province economy grew at a rate of 22% last year, well ahead of the country’s average growth rate of 8%,” said President Mahinda Rajapaksa on 3 August in Vavuniya.

President Mahinda Rajapaksa was addressing the inauguration event of Italy based Calzedonia Group’s Omegaline apparel plant in Vavuniya on 3 August. This $30 million factory operated by Italy based Calzedonia, is planning to produce high quality apparel for 3300 stores in international markets and also provide employment to more than 3000 people in Vavuniya. The investor Calzedonia Group is present in more than 30 countries and produces for four leading global brands. Last year, the four Sri Lankan companies of Calzedonia were able to generate a turnover of more than $350 million, thereby greatly contributing to our national exports basket. “Several large scale local and international business ventures are nearing completion in the North. They will be opened shortly heralding new livelihood opportunities for the people of the North. The responsibility of the Government is to provide equal opportunities and facilities to youth from all corners to rise as equal stakeholders in the country’s development. The Northern Province economy had grown at a rate of 22% last year, well ahead of the country’s average growth rate of 8%” said the President addressing the event. “I commend the latest declaration of Colombo and Hambanthota ports as free ports which is a timely step in advancing our national goal of ‘five hubs’ and more importantly, in achieving $20 billion export target by 2020,” said Minister of Industry and Commerce Rishad Bathiudeen, addressing the occasion He added: “I thank Your Excellency for this important measure on behalf of our exporter community. I also stress that my Ministry and all institutions under it are working towards achieving the $20 billion target by 2020. Vavuniya is also stepping into the world of apparel exports from today. Thanks to your committed vision, I am pleased to say that Sri Lanka’s apparel exports are recovering from the impact of global recession. In fact, in 2012, our total apparel exports stood at a strong $3.77 billion. I am pleased to inform you, that our apparel exports have recovered, from the impact of global recession. Our overall garment exports which include apparels and other woven fabrics have increased in the first half of this year by 1.5% to $1994 million in comparison to 2012’s first half which stood at $1964 million. This year’s apparel only export value totalled $1873 million, at same levels of 2012 first half apparel only exports stood at $1874 Million.”

Calzedonia Group President Dr. Sandro Veronasi addressing the event said: “Calzedonia always provides the best of facilities to workers and encourages strong mutual bonds and team work among who come from different backgrounds.”