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Sri Lanka’s Rakshaa signs agreement with BOI

Sep 07, 2021
Sri Lanka’s Rakshaa signs agreement with BOI

Sri Lanka

An agreement has been signed by the Board of Investment of Sri Lanka with Rakshaa Ltd to expand its existing operations.  This expansion will include ladies’ fashion garments and sportswear.

Rakshaa is going to export the garments to countries like Hollister, the UK, India, and Mauritius. This is going to generate employment opportunities for 300 people that also include rural geographies in Sri Lanka.

This agreement was signed by BOI Chairman Sanjaya Mohottala and Rakshaa Managing Director Chandana Weerasinghe. The decision of the company to invest in a manufacturing unit in rural Sri Lanka was complemented by Mohottala. He said that this move is going to contribute positively towards the economic empowerment of these backward communities. He also congratulated leadership for expanding its capacity and entering new markets.

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Source – Daily FT

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