Financial News from Sri Lanka: A delegation of five senior European Commission officials lately toured the Katunayake Export Processing Zone in connection with the GSP+ status of Sri Lanka. The delegation comprises Thorsten Bargfrede, Head of Political, Trade and Communication Section, Walter Van Hattum, GSP Trade Preferences, Trade and Sustainable Development Coordinator, Nikolaos Zaimis, Trade, and Sustainable Development Advisor, Elina Laurinen, Senior Trade Expert, South and South East Asia, Australia, New Zealand, Trade and Rudi De
The KEPZ BOI officials greeted the delegation. Himali Urugodawatte Director (Legal)–BOI’s Industrial Relations produced a comprehensive presentation on the Katunayake Export Processing Zone’s present status. The introduction featured the growth of the 44-year history of the KEPZ with the aim of implementing the free trade economy of Sri Lanka with a focus on foreign direct investment. In addition, the visiting representatives were described as the function of the Export Processing Zones within the BOI. Also included in the briefing were the BOI services that include Investor Services, Environmental, Monitoring, and Industrial Relations. The presentation also highlighted the smooth operations between the 88 factories with a capacity of 35,000 employees and the BOI Zone welfare services.
BOI also arranged to visit several facilities at KEPZ to visit the delegation. The first plant was M / s Flintec Transducers (Pvt) Ltd, which manufactures sensors used for weighing scales. This KEPZ-based firm is a Swedish investment and produces sophisticated parts using techniques of high technology.
Tyronne Wecksinghe, Managing Director, given a very thorough briefing on factory production while also showing very high standards in working circumstances, security and human resource management.