|
|
|
| Sunday, 18 December 2005 |
 |
|
 |
Business |  |
| News Business Features Editorial
|
BOI deal to manufacture embroidery lace for export The Board of Investment of Sri Lanka (BOI) last week finalised an agreement involving $8.5 million FDI - Foreign Direct Investment with a consortium of Swiss and Thai investors to manufacture high-value embroidery lace for the export market. The new company, Bishoff Gamma Lanka (Pvt) Ltd will be housed in the Biyagama Export Processing Zone. The building is expected to be completed in six months and production to commence before end 2006, providing 450 direct and indirect employment opportunities. The foreign principals are reputed for turning out embroidery for intimate apparel needs. The local output will be exported mainly to USA and European countries, foreign investment consultant, Bandula Fernando, who brought in the investors, said. This is the first BOI agreement to be signed following the recent appointment of Prof. Lakshman Watawala as the head of BOI, being his second term as chairman of this institution. Fernando, formerly of the Ministry of Finance is a registered adviser to UNIDO in Vienna. Over decades, he has been responsible for bringing in investors for many gainful projects. |
|
| News | Business | Features
| Editorial | Security
| Produced by Lake House |
