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FINANCIAL CHRONICLE™ » DAILY CHRONICLE™ » Sri Lanka opens a new apparel factory in once war ridden Eastern Province

Sri Lanka opens a new apparel factory in once war ridden Eastern Province

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Malika1990

Malika1990
Senior Vice President - Equity Analytics
Senior Vice President - Equity Analytics
Sri Lanka saw the opening of an another apparel plant in once war ridden Eastern Province on Monday, which has come up with the backing of the USAID.
The factory established in the Thirukkovil area of the Ampara District is the 3rd such facility opened under the Eastern Garment Alliance, a public private alliance between the USAID and Daya Apparel Private Limited.
Two other factories of the alliance established in Ninthavur and Maha Oya areas of Ampara District are already being operated.
US Ambassador in Sri Lanka, Patricia Butenis speaking at the opening of the latest plant of the alliance has said, “I am delighted to be here in the east to see the progress of the region and its people. Since my first visit to the east, almost three years ago, what I see today is immense progress — increased economic growth, improved living conditions, and enhanced skills in a region affected by nearly 30 years of conflict.”
A statement issued by the US embassy in Colombo announced that, under the Eastern Garment Alliance, nearly 1,000 men and women of the Eastern Province has secured job opportunities.
USAID is currently engaged in supporting seven alliances with Sri Lankan companies in the aquaculture, horticulture, logistics and apparel sectors.
In addition to nearly $11 million which USAID has provided, the alliances have leveraged approximately $26 million from its private partners.
http://www.news360.lk/business-finance/25-7-12-sri-lanka-opens-a-new-apparel-factory-in-once-war-ridden-eastern-province-12345

Slstock

Slstock
Director - Equity Analytics
Director - Equity Analytics
Good. High time practically these Aid and investments start realizing ventures in that region.
We will need more activity and infrastructure development to back up our statements. Also this would give good signals to outside.

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