BOI assures support for FTZMA members in resolving shipping and customs issues

BOI Chairman Dinesh Weerakkody  

The Board of Investment (BOI) Chairman Dinesh Weerakkody yesterday assured support for the members of the Free Trade Zone Manufacturers Association (FTZMA) in resolving shipping and customs issues.  Responding to the Daily FT article of yesterday titled “FTZMA expresses BOI enterprises concern over undue delays, inadequacies in shipping and customs,” BOI said it has discussed this situation with the Sri Lanka Ports Authority and DG Customs and other relevant officials to address the issues raised.

 “We recognise that BOI enterprises are key contributors to the Sri Lankan economy, accounting for 62% of total national exports, while accounting for 76% of the industrial exports sector. BOI enterprises account for 96% of the flagship apparel exports sector, while rubber-based products, and machinery/mechanical appliances sectors record 90% and 80%, respectively. Therefore, given the significance of BOI enterprises’ contributions to the GDP, we will continue to work with relevant officials on an ongoing basis to find sustainable solutions to operational challenges faced by enterprises,” the statement issued by BOI Chairman added.