Japanese investment in textile sector to reduce textile exports

A delegation of Japanese entrepreneurs led by Thadai Suki, chairman, Japan Sri Lanka Business Committee, met Basil Rajapaksa, Minister of Economic Development, Sri Lanka and discussed Japanese investments in Sri Lanka, according to an official statement. The move is directed at curbing the import of 90 per cent of textile for the country’s apparel sector. “Since our labor resources are knowledgeable, efficient and friendly, it will be easy to achieve productions of higher quality,” said Basil. The Minister further added that the Government is ready to provide requisite facilities and assistance for the production of apparels. Thadai said expressed his pleasure with the development achieved by Sri Lanka and added that Japanese investors will be able to dispatch their production to reach their anticipated destinations with little cost owing to the improved transport facilities of Sri Lanka.