SLAMERP members who are major BOI Investors with BOI DG Sanjay Mohottala, BOI Chairman Susantha Ratnayake, EDB Chairman Prabhash Subasinghe, SLAMERP Chairman Ravi Dadlani and SLAMERP DG Rohan Masakorala
The Sri Lanka Association Manufacturers and Exporters of Rubber Products (SLAMERP) recently visited the Board of Investment (BOI) to discuss future investment and expansions projects to increase Sri Lanka’s Value-added rubber sector.
As a global leader in the solid tyre industry and a key supplier to the world market of rubber gloves and other industrial rubber products of Sri Lanka, the sector has a massive potential to double its foreign exchange earnings from the current $ 1 billion, over the short to medium term and achieve a target of $ 3 billion by 2025.
SLAMERP Chairman Ravi Dadlani was of the opinion that, Sri Lanka having the presence of top global brands along with world class local production facilities producing high quality products, has massive potential to increase the exports and increase global market-share to support the plantations sector.
He said that with the ongoing expansion across industries, the local plantations industry too will benefit as demand for rubber will certainly increase. He pointed out that even today the industry absorbs the total available raw material from the local industry, but emphasised the need to improve yield, quality and expand new scientific techniques to increase productivity. Re-planting must be accelerated by the rubber department and the domestic supply chain also needs upgrading said Dadalani.
SLAMERP Director General Rohan Masakorala said that there is a rubber master plan with targets to be achieved. “We are in discussion with the ministry and relevant institutions to implement these projects and the ball is rolling now, we are keen to expand and have had discussions with the Board of Investment to explain our requirements. A priority with BOI is the establishment of the rubber city or a dedicated rubber zone. We have already commitments of investments from our members for this project,” he said.
BOI Chairman Susantha Ratnayake and Director General Sanjaya Mohottala said that the Government has recognised the rubber sector as a thrust sector for the economy and that the BOI is looking at the needs of the industry for expansion as well as to bring in new investments to Sri Lanka.