IntroductionKey Sectors For Investment - Export Services
Overview
It is a policy decision of the Sri Lanka government that the country's further development should be based five major service-related hubs: naval, aviation, commercial, energy and knowledge.
The services sector contributed almost 60% to the country's GDP in 2011. This sector grew by 8.6% in 2011 compared to 8% in 2010. In line with government policy, the BOI has given special emphasis on developing these hub areas by promoting investors in Export Service Sector where enormous opportunities are available for foreign investors. Adding further impetus to the development of this sector is the significance of the strategic geographical location of Sri Lanka.
With the large expansions currently taking place in the Ports sector, it is expected that foreign as well as local investors will have a major role to play in the marine related export services including the following:
• Ship repairing and ship building
• Marine support industries
• Rigging & offshore engineering
• Supply of spares, food, water and other goods
• Medical evacuation and assistance
• Bunkering
• Maintenances Services
Apart from the above, other export services are promoted by the BOI on a case by case basis. (Eg. Services supporting export manufacturing, Aviation Services, other direct and indirect export services). Main criterion for export services sector is to earn a minimum of 70% income in convertible foreign currency.