Sri Lanka’s Rakshaa signs agreement with BOI
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.
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.
Source – Daily FT
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