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According to Colombo Dockyard PLC Chairman Akihiko Nakauchi: “The Sri Lankan work force is very diligent and dexterous. It is very easy to find highly educated young people.” He added: “The service provided by the Board of Investment for this sector is excellent.” Sri Lanka has one of the best natural harbours in the Asian region and its commercial port in Colombo is rated among the most economical and efficient, which offers a comprehensive range of services to shippers.
As a result of several initiatives taken by the Government, the private sector and other stake holders the boat building industry in Sri Lanka has now become one of the leading local industries with a potential of emerging as an export sector.
Freed of a three decade long conflict, considerable opportunities have emerged in the boat building sector such as boats for excursions, for whale watching, leisure fishing, snorkelling and scuba diving. The interest of the local community in boating activities will create additional markets not only for the exiting entrepreneurs but also for the new investors in the industry.
The Government’s objective is to transform Sri Lanka into a maritime Hub as per the “Mahinda Chinthana Way Forward” which is a blueprint of the country’s future development. The Government is confident that the seas off Sri Lanka offer many untapped economic opportunities which favour investment and trade.
Sri Lanka’s boat building industry is roughly comprised of three main sectors namely, pleasure boats, commercial boats and fishing boats.
The Board of Investment of Sri Lanka has played and continues to play a leading role in order to developing this industry.
There are more than five big boat building companies operating with BOI status. Neil Fernando and Company Ltd., Dhanusha Marine Lanka Ltd., Josten Viksund Ltd., Solas Marine Lanka Ltd. and Colombo Dockyard PLC are some the companies operating under BOI, which produce a wide range of activities such as production of small and medium size boats for the export markets, production of vessels for sport fishing and day fishing, speed boats, coast guard vessels, dinghies, freshwater fishing boats, saltwater fishing boats, cruising boats and sailboat.
Colombo Dockyard PLC specialises in the building of anchor handling tug supply vessels, platform supply vessels, passenger vessels, harbour tug boats, landing crafts, work boats, fast patrol bats, offshore patrol boats, cargo vessels and passenger vessels for the export markets.
In addition to enhancing earnings of foreign exchange, the boat building industry itself offers a wide range of benefits to the country. It has generated many job opportunities for the youth and created inflow of technical know-how into the country.
According to a new market research report titled Global Recreational Boating Industry Analysis and Forecast 2010-2015 from Lucintel, the boating industry is growing exponentially over the next five years. The Sri Lankan boating industry therefore has with great potential for expansion opportunities and even of penetrating new markets. Existing boat manufacturers can expand their production capacity to meet the growing international demand. The Board of Investment of Sri Lanka believes strongly that the boating industry is a sector which will play an important role in the country’s development.
BOI Chairman Dr. Lakshman Jayaweera concluded: “The BOI sees the boat building industry as one which can transform the economic landscape of the country since it is linked to vital economic activities that will grow in importance in the decades to come such as fisheries, tourism, offshore oil and gas exploration and even the export of boats and ships. The BOI therefore welcomes and facilitates investments in this vital area.”
