Sri Lanka will muster USD 90 million in export revenue from the boat building industry this year, said Minister of Plantation and Health, Dr. Romesh Pathirana at the opening of the eighth edition of the boat show on Friday.
He said that currently export earnings from the industry Is at around USD 67 million and will go up to 90 million by the end of the year. “We have potential to grow this industry to around UD 300 million soon.”
He also said that with the economy bouncing back to normal import restrictions too would be lifted. However, this will not have an impact on the industry as Lankans boats are of high quality and can compete anywhere in the world.
“Other sectors, however, will have to increase their quality to fight against imports.
He also thanked former Minister and Speaker Karu Jayasuriya for launching the industry in the 1990s.
State Minister for Investment Promotion, Dilum Amunugama in 1992 only around two boats were made by companies but today we have nearly 100 boats on display. These include yachts and fisheries boats.
He said that Sri Lanka should also participate in the Dubai Boat show in Dubai next February and EDB should look at financially supporting some of the SME boat builders to participate in this where they would be able to find some buyers.
One of South Asia’s esteemed boat shows, the ‘International Boat and Marine Show – Sri Lanka 2023’, was launched on Friday at the Port City Marina in Colombo for the first time.
This groundbreaking choice establishes it as the largest boat and marine exhibition in the nation, with a primary focus on showcasing Sri Lanka’s prowess in recreational boating, yachting, marine tourism, boat building, and associated services for the export and domestic markets.
The event has garnered endorsement from Sri Lanka Tourism and will be open to the trade and public till 10.00 pm today.
With a legacy built on the resounding successes of Boat Show Sri Lanka in 2008, 2010, 2012, 2014, 2016, and 2018, ‘ Boat and Marina Show 2023’ drew a diverse and international audience. It is anticipated that the event will attract buyers, enthusiasts, and industry professionals from various countries, including India, Singapore, the Maldives, South Korea, Belgium, the Middle East, Germany, Holland, LIK, Seychelles, and more.
The event represents not only an extraordinary showcase of marine products and services but also a catalyst for trade and investments in the related field.
The sponsors of the event were: Neil Marine (Diamond), Morex & Sea Leisure Yachting Group (Platinum), and Zen Line Global Logistics (Gold). Renowned partners include Bank of Ceylon (Banking), Hemas Hospitals (Health), Kingsbury (Hospitality), with AWK Industries as the Event Promoter and CDC Events serving as the event organiser.
The Chamber of Marine Industries Sri Lanka (CMISL) was the chief organiser in partnership with the Ministry of Industries, EDB Sri Lanka, Sri Lanka Ports Authority, Ceylon Fishery Harbour Corporation, and ICOMIA.
