Sri Lanka's MAS group and several apparel firms are boosting their export production capacity, amid an overall increase in industrial investment according to new approvals granted.
MAS Active, a sportswear group will invest US$21 million to boost its capacity. Other companies that are expanding include D 2 Clothing (Pvt) Ltd, Original Apparel (Pvt) Ltd and. HIrdramani International Exports. The country has approved investments totaling 28 million US dollars for apparels up to April.
Sri Lanka's exports got a boost after the European Union restored GSP+ benefits to the country.
The country’s exports grew 10.2 percent to 11.3 billion US dollars in 2017, with industrial exports up 7.6 percent to 8.64 billion US dollars.
